Pig prices in Spain see a drop off
Demand has continued to be weaker although is starting to show some signs of picking up as the summer holiday period nears its end. This lower level of demand has been matched by reduced slaughter throughputs according to AMI, with some regional variation.
French pig prices have seen the largest increase over the last four weeks up €7.00, to stand at €203.00/100kg in the week ending 14 August, closely followed by Germany, where prices increased €5.70 to €198.54/100kg. These are equivalent to 171.55p/kg and 167.79p/kg respectively using current exchange rates, meaning French and German prices were 30p below the UK price of 197.88p/kg. Pig prices in the Netherlands and Denmark were both at a discount of 25p/kg to the French price in the week ending 14 August and 50p/kg below the UK price.
Pig prices in Spain dropped by €9.27 to €208.68 in the four weeks ending 14 August, equivalent to 176.35p/kg, 20p/kg below the UK average. Spanish prices had been tracking UK prices at the end of June but have now significantly dropped off whilst UK prices continue to increase. It was reported that the Spanish pork industry is struggling to keep up with the evolution of the global market and lowered demand from China.
Sterling strengthened against the Euro over the last 4 weeks, which has served to make imports from the EU more competitive, and conversely, increase the price of exports to the EU.
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