EU pig prices remain flat in the New Year
EU pig prices have remained relatively flat in the first few weeks of the New Year. The EU average reference price for the week ending 3 February stood at €133.98/100kg, just 50 cents below four weeks ago.
The price was falling at the same time in 2018, and as a result the current price is now just 25 cents below the same week of 2018.
The flat nature of the prices extended to most of the major pig producing countries in the EU. The reference prices for Germany (€140.32/100kg), Denmark (€127.12/100kg) and the Netherlands (€122.06/100kg) all remained stable over the past four weeks, with all the prices now above year earlier levels by a small margin (€3-6). The Spanish price wasn’t quite as stable, falling by €1.57 over the past 4 weeks, but still remains €4.61 above the 2018 price.
Due to a slightly stronger pound in January, UK reference prices rose by €4.60 in the past four weeks and averaged €160.80/100kg in the week ending 3 February. Despite this, the UK price still remains below (-€4.71) year earlier levels, with UK pork demand reportedly lacklustre in the first weeks of 2019. The gap between the EU reference price and the UK has widened again slightly, to €26.82/100kg.
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647