Pig prices struggling in northern Europe

EU pig prices have begun to come under pressure again, as reports suggest that as a backlog of finished pigs is developing in Germany and Belgium. The Dutch price has also weekend significantly in recent weeks. Although the Netherlands supplies slaughter pigs to Germany, six Dutch plants have themselves temporarily had export licenses for China withdrawn due to COVID-19 outbreaks, compounding the situation in the country. The Dutch prices fall cannot, therefore, be wholly attributed to the closure of the important German plant at Rheda.

Just as it is for UK producers and processors, access to China is important for maximising EU carcase values. Although import demand from China has been and is expected to remain strong, it is unclear at the moment when pork from suspended plants will begin to move again.

Future developments in the EU market as a whole will depend not only on how and when these suspensions are lifted but of course also on how local demand evolves as lockdowns are lifted across the region. In a change from recent weeks of relative stability, it now also appears that weaner prices in the EU are coming under pressure too.

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