Pig producers in France hurt by the drop in prices
Pig prices in France are dropping constantly since October and the situation looks to continue for the next couple of months. According to the latest global market report from Genesus Inc, some producers close to retiring will probably start to consider going with a stop of production. "Covid and ASF lead to lower hog market prices in Europe. In a very particular context, pig market price in France lost €0.15 (0.18 $) per kg carcass in November. Since then, prices seem to keep dropping - 1.201 € per kg carcass (66.24¢ US per lb. carcass) on December 7th.
Since the end of October, a new lockdown has started in France due to Covid, and all restaurants, bars, and many stores are closed. At this time we don’t know yet when restaurants will reopen (probably not before the end of January). Of course, this leads to a decrease in consumption including pork.
Moreover in North of Europe hog prices decreased too, €0.8 less per kg in Germany in November. Two packing plants in Denmark had to stop their exports due to Covid-19. That means more pork remains to be sold within the European market resulting in even lower prices, " explains Philippe Mallétroit, Director for France, Genesus Inc.
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Since January, French pig producers have lost about 47 € ($57) per hog due to a decline in demand in both domestic and export markets as a result of closing foodservice channels almost all over the world in front of the pandemic wave created by the novel coronavirus.
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