EU pig prices ease while UK prices remain stable
Price movements were variable across the key producing regions, with both Germany and the Netherlands recording lower prices, Denmark and Spain holding steady and France reporting an increase.
In general, continental prices remained at a discount to the UK price through the four weeks, although the volatility in sterling offset some of the downward price moves in euro terms. In the week to 16 October, the discount ranged between 12 and 44 pence/kg.
Germany saw the largest price drop as supply pressures eased, with prices declining by nearly €10/100kg over the four-week period. The Netherlands saw prices dip by €7/100kg, while Spain and Denmark reported only marginal declines. In France, prices increased by €2/100kg over the period, making French pigs the most expensive on the continent.
The EU pig meat market is facing the same pressures as in the UK despite lower average costs of production. Although per capita consumption of pork is much higher in Europe than in the UK, demand is being negatively impacted from ongoing price inflation with the latest EU outlook forecasting a 1.9% decline. The ASF situation is also limiting trade opportunities, reducing export opportunities.
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