EU pig prices find some strength

EU pig prices have been a mixed bag over the past month. The EU reference price stood at €135.21/100kg in the week ended 27 February. Prices in Denmark declined over the month, while prices in the Netherlands were stable. In Germany, Poland and Spain prices have recorded some rises more recently. In Germany at least, reports suggest supplies of slaughter ready pigs are tighter at the moment.

Europe continues to have a plentiful supply pork but across the whole of the EU, supplies of pigs on farm do appear to be starting to ease back. This is positive both in terms of processors’ ability to handle them, and possible future price developments. A bottle neck at the point of slaughter (i.e. more pigs than slaughter capacity) has been one of the key pressures on prices over the past six months, in addition to the large supply of pork for consumption. While in Europe this pressure has been slightly released, in the UK the number of pigs ready for slaughter continues to far exceed slaughter capacity.

Due to the reduction in Chinese pork import demand in particular, pork supply continues to outweigh demand. Some abattoirs on the continent have reportedly responded to the substantial and widespread increase in input prices, by offering a premium to producers.

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