Downward trend in French pig prices
Pig prices in France are sliding and the trend is to remain, as Germany reported recently ASF outbreaks in its pig farms. "Since mid-June, hog market price in France lost 0.202 € per kg (about 0.24 US $ per kg). The pork sector reported aggressive competition from European meats, particularly Spanish pork, offered on the French market at very low prices. Moreover, the packing plants have reported difficulties in passing on the price increase to large retailers.
Fewer pigs have been slaughtered the last couple of weeks, a reflection of seasonal lows in production but also slow demand from packing plants. Despite the end of Covid restrictions and collective catering expansion, the domestic demand is not important and unable to compensate the sudden withdrawal of the largest outlet of many European exporters - China," reports Philippe Mallétroit, Director France, Genesus Inc.
Pig prices in France have lifted above those reported last year only in May and June (+13%). For the first four months of the year, prices have been down by 21% (January), 18% (February), 14% (March), 3% (April).
In some European markets, a timid recovery seems to be taking place in connection with the choice of holidaymakers to stay in their country. In some places, better weather is expected to boost demand for grilled pork, but the amount of meat available today remains well above consumption that is still struggling to take off. Despite these few positive signs, pig prices have globally continued to fall, putting the future of many European farms increasingly in peril, says Mr Mallétroit in his market report.
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