EU market remains stable
EU pig prices have fluctuated between €125 and €130 per 100kg for most of this year and this remained the case in April.
Following some improvement in prices in the run up to Easter, a combination of public holidays and subdued demand on the EU market meant that prices eased back. However, by the end of the month they were on the up again, with signs of improving weather in northern Europe stimulating demand. Having reached its highest point of 2016 to date at the end of March, at a fraction over €130 per 100kg, the EU average price had dropped back to €127 in mid-April. It then picked up again, to finish the month at €128.29 per 100kg. The fact that this improvement came despite the release of much of the pig meat stored during the PSA scheme in January provides some encouragement that the market may be strengthening, albeit from a low base.
Prices on the key German and Spanish markets have followed similar trends to the EU average, dropping back in early April before strengthening later in the month. Belgian and Dutch prices showed less sign of recovery in late April, while Polish prices continued to fall. The market has been more stable in Denmark and France. Despite the overall stability in euro terms, some strengthening of the pound during April means that prices have fallen in sterling terms, dropping back below £1/kg in the latest week. As a result, the gap between UK and EU prices has increased slightly to 13p/kg, although this is still well below the level of recent years.
Stephen Howarth, Market Specialist Manager
Stephen.firstname.lastname@example.org, 024 7647 8856