EU pig prices have dropped
Pig prices in the EU are following the downward line that appeared since mid-March, a time that coincides with the closure of the foodservice sector across the continent. Average EU pig prices have reached €178.66/100kg, just 9 euros more than the prices recorded in March 2019, before "the pork rush" started by huge volumes of pig meat imported by China. The market is suffering from a drop in demand due to foodservice closures as a result of COVID-19 restrictions across Europe. Reports indicate that retail demand is not sufficient for the supply level, even though finished pig numbers are not large. Export markets also seem reasonably subdued; prices offered by China are reportedly lower than the European price level. "Declining pig prices were a feature of nearly all member states. In the four weeks to 26 April, average reference prices have moved as follows:
Germany: -€10.79 to €184.51/100kg; Spain: -€9.05 to €178.84/100kg; Denmark: -€7.17 to €194.81/100kg; Netherlands: -€5.62 to €167.56/100kg; France: -€4.00 to €163.00/100kg
Italy does not publish a reference price. However, the national 160/176kg live price has dropped €20 in the four weeks to 1 May, to €120/100kg. The situation is reportedly very bad, with many closed processing facilities disrupting the marketing chain, particularly for hams", according to Bethan Wilkins, Senior Analyst, AHDB.
Meanwhile, supported by a stronger pound, pig prices in the UK have risen in euro terms. As a result, while EU prices were €10 above the UK in mid-March, the UK is now at a premium, by over €9.
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