Tight supplies support EU pig price momentum
In the week ended 16 June, EU pig prices reached the highest point since October 2013, at €178.15/100kg. This was nearly €3 higher than the start of the month. However, in the subsequent week, prices eased slightly.
Reports suggest the small supply of slaughter pigs has helped compensate for difficulties on the meat market. Demand is apparently below expectations across much of Northern Europe, although the onset of the holiday season is helping the situation in Spain and Italy. International trade is reportedly also somewhat mixed, though processors with access to the Chinese market remain in a more favourable position.
On average, EU pig prices have moved further away from UK prices during June. EU prices averaged €9 higher than in the UK during the month. This is partly due to some weakening of the pound, which has taken around €1 off the UK price since mid-May.
Prices across the key Member States moved as follows in the four weeks to 23 June:
- Belgium: +€2 to €152.50/100kg
- Denmark: +€4 to €173.30/100kg
- France: +€7 to 163.00/100kg
- Germany: -€1 to €184.27/100kg
- Netherlands: +€3 to €165.52/100kg
- Poland: -€1 to €177.27/100kg
- Spain: +€11 to €178.85/100kg
- UK: +€2 to €167.76/100kg