June 8, 2006

German pork prices strong ahead of World Cup

German pork producers will be laughing their way to the bank as the world's soccer teams battle it out in their home turf this June.

EU's pork prices are gaining strength in tandem with the rising tempo of World Cup fever.

German pork prices are now the most expensive in the EU as spectators are expected to chomp down on pork during the 4-week tournament.

Meanwhile, the EU big six Mainland Average has risen by almost 10 percent since the start of the year.

During the 1998 World Cup in France, pork prices rose sharply and EU pork producers are hoping that history would be repeated in Germany.

Sales of spare ribs and pork chops, indispensable items for barbeques, are expected to be brisk if the weather holds.

Not to be outdone, UK prices have risen to the challenge with a recent rally, ending with the GB Euro Deadweight Adjusted Pig Price moving up to 101.82p/kg.

However, feed wheat prices, which have risen more than 20 percent over the last year, are giving cause for concern for some UK hog farmers.