Brazilian average pig prices just jumped over the EU
EU average pig prices continued to fall last week to reach a value of €146.1 in clear contrast with the other major international players. The average pig price in the EU is down 5% m-o-m and has lost 20.8% in value from the same period last year. ASF in Germany may have contributed to the situation but also this can be related to the coronavirus impact on foodservice sector.
Meantime, Brazilian average pig prices per 100kg carcase have surpassed the European quotation, reaching a value of €151. Also, prices have rebound in the US and Canada as China is looking to fill the gap left by Germany in this market (see chart below).
"Last week the US sold 60,200 tonnes of pork, the highest amount this year and the highest since early 2019. We expect the closing of German exports to Asia due to ASF is giving underlying support. Last week China sales were 29,000 tonnes, the fifth-highest amount this year. We expect to see continued strong export sales over the coming months as Asian demand and loss of German pork pulls more sales to USA-Canada", commented Jim Long, CEO and President of Genesus Inc.
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