EU pig prices stabilise in build up to Christmas
EU pig prices have remained largely stable since the start of November, declining by just €0.61 in the past 5 weeks, to reach €145.16/100kg in week ended 10 December.
Prices were rising at this time last year, so the gap between this year’s and last year’s prices has widened over the period. For the most recent week, prices are now almost €10 below equivalent 2016 levels.
This price stability comes as an ample supply of pigs is currently being matched by good demand in the run up to Christmas. However, it is uncertain whether this can continue, given the traditionally more difficult new year period is now approaching.
On an individual country basis, most member states followed the overall trend and recorded stable or modestly declining prices over the past few weeks. The German reference price stood at €149.39/100kg in week ended 10 December, which is just €0.16 above 4 weeks earlier. Other major producers recording negligible price changes over this period include Denmark and France. However, stronger price declines continued in Spain, with the reference price falling €4.11 over the past four weeks to €126.16/100kg.
Prices in the UK also continued to fall over the past four weeks, although some recovery in the pound minimised this decline in euro terms. Nonetheless, with EU prices stabilising this meant the gap between the UK and EU average reference price began to narrow again. At 150.91p/kg for week ended 10 December, the UK price currently stands around 23p above the EU average, which is almost 1p less than 4 weeks prior.
Bethan Wilkins, Analyst
firstname.lastname@example.org, 024 7647 8757