EU pig prices continue upwards
During April, EU pig prices continued to track upwards, with the reference price gaining almost €20 over the past four weeks. During the week ending 28 April, the reference price stood at €169.53/100kg, according to European Commission data. This is €27 higher than a year ago.
Most major producing nations recorded rises during the four weeks, although UK pig prices increased only €0.88, to €163.29. Click here to read about why the UK and EU prices may be recording different trends. The UK is a net importer of pig meat, and prices here typically carry a premium, so it is unlikely the price can remain below EU levels for a sustained period.
Industry reports suggest supplies of pork are behind export demand levels. Total EU pig meat production is forecast to be steady on-the-year by the European Commission, with growth in export demand offsetting declines in domestic consumption. However, a dramatic and sustained increase in prices will clearly be an incentive to increase production.