EU reference price rises once again
The average EU pig reference price climbed once again in the four weeks ending 25 June, to the highest level since October 2013.
At €176.97/100kg, the current quote is €1.43/100kg up on the week ending 28 May. While the rate of the increase has slowed, compared to the four weeks ending 28 May, the price remains €21.79/100kg higher than the same week in 2016. Over the past month it has been heating up across the continent which will have brought some associated barbeque demand for pork.
On an individual country basis, Denmark, Poland, the Netherlands and Germany all recorded marginal price increases (less than €1/100g) in the four weeks ending 25 June. French prices recorded a modest €1 gain over the same time frame to stand at €160/100kg, while the Spanish reference price climbed by nearly €6, standing at €172.92/100kg in the week ending 25 June.
The UK reference price recorded a marginal increase (0.2%) over the same time frame and stood at €184.10/100kg in the week ending 25 June. Nonetheless, with the pound slipping further against the euro, in sterling terms the UK reference price recorded a larger gain (1.4%) over the past four weeks, reaching £161.74/100kg in the week ending 25 June.
Millie Askew, Senior Analyst (Red Meat)
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