EU pig prices show recovery

EU deadweight pig prices for December (five weeks ending 1 January) averaged 177.54p/kg. This is an increase of 3.1% (5.35p/kg) on prices seen in November (four-week period ending 27 November).

Within this overall uplift there was price variability across the key producing regions. Germany, the Netherlands and Denmark reported increased prices, while France and Spain reported a softening of prices. Germany saw the largest price increase during the five-week period, up an average of 7.7p/kg (4.4%). In comparison, France saw the largest decline, down an average of 4.0p (2.3%).

Continental prices continued to remain below UK prices during the five-week period, with UK pigs averaging 25.36p/kg more than the average EU-27 price.

The EU medium term outlook is anticipating the pig meat prices will remain contained after the price spikes seen in 2022. EU consumption is anticipated to ease by 4% over the next 10 years, and production to reduce by 1% per year. With adjustments to production, and potential for further ASF outbreaks in Asia, whilst prices are anticipated to ease, this could be at a slower rate than initially predicted.

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