EU prices fall to 9-month low
EU pig prices have started falling again since late September and by week ended 8 November had fallen for seven consecutive weeks, losing €12 per 100kg during that period.
At €136.80, the latest price was the lowest since February, although less than €5 lower than a year earlier. The pressure on prices comes as reports suggest that the number of pigs being marketed remains high and at heavier weights. At the same time, consumer demand continues to be subdued, with the IARC report linking red meat with cancer reported to be contributing to this. Export demand has held up, however, due to strong sales to China. With the pound strengthening against the euro, UK prices have actually increased in euro terms in recent weeks. As a result, the gap between UK and EU prices has begun to widen again, reaching €38 per 100kg (27p/kg) in the latest week.
Until the last two weeks, prices in northern Europe had seen a few weeks of relative stability. However, in the latest fortnight, the German price fell by nearly €7 per 100kg, with a similar fall in Poland and slightly smaller ones in other northern Member States. Even Denmark, which had escaped some earlier price falls, saw its quote drop by €4 in the week ended 8 November. Further south, prices were falling more consistently. The biggest drop in recent weeks was in Spain, down by €21 per 100kg in seven weeks. The French price declined by €17 over the same period, as disruptions to the Marche du Porc Breton auction continue.