EU pig prices hold firm

EU deadweight pig prices have, overall, seen further upward moves. While weaker demand has been reported for the period, this appears to be balanced against reduced throughput in slaughterhouses. Both Spain and the UK continued to record strong price increases over the past four weeks.

In the week ending 17 July, the pig price in Spain had reached €217.95/100kg, a rise of more than nearly €5.70 (2.7%) compared to four weeks before. This is equivalent to 184.59p/kg at current exchange rates, and 8.27p below the UK reference price at 192.86p/kg.

Prices in Germany moved up to €192.83/100kg in the week ending 17 July, after recording prices above €193 in the previous two weeks. Finished pig prices in Denmark firmed steadily over the past four weeks, reaching €170.52/100kg. The EU average reference price has risen to €193.11/100kg, up €5.74 (equivalent to 163.56p/kg).

The pound strengthened against the euro in the past two weeks after a period of weakness, which - all other things being equal - would have reduced prices of imported pork. On balance over the four-week period however, there was little change in the euro/sterling rate compared to the previous month.

European sales were reported by AMI as steady over the period, but at low levels despite the beginning of the holiday season. Overall supplies are reported as being balanced against this, however regionally, the picture is more mixed. This is suggested to have contributed to some weakening in prices very recently, although overall averages remain steady.

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