October 9, 2007

 

EU pork prices lower this year

 

 

Despite rising feed prices, pork prices this year in the EU has threaded lower, according to Dutch agricultural newspaper Agrarisch Dagblad.

 

Average pork price per kilogramme for pigs in the European Union (EU) in the first 40 weeks of 2007 was EUR 1.32 (US$1.85).

 

The price was calculated by comparing the weekly pig prices for 1 kg slaughterweight in 13 different countries throughout the EU, monitored by the German pig producers' organisation ISN.

 

In 2006, the 40-week price was EUR 1.44 (US$2.02).

 

In the Netherlands, the current prices for pork are estimated at EUR 1.65 (US$2.31), near the average for Europe.

 

In Germany, the average price in 2007 to-date was EUR 1.312 (US$1.839) . The highest pig prices were seen in the weeks 29 to 32, when prices rose to EUR 1.436 per kg. (US$2.013).

 

In the Netherlands, the maximum was reached in these same weeks.

 

In Denmark, prices are lower than in Germany, with a price of EUR 1.267 (US$1.776)  in week 40.

 

According to ISN, the weakness of the British pound resulted in lower prices, as the UK imports a lot of Danish hams and bacon.

 

On the other hand, Spain saw the highest prices for pigs, with an average of EUR 1.428 (US$2.002) - and even topping EUR 1.630 (US$2.28) in weeks 26 and 27.

 

Prices have, however, fallen during the last weeks, with current prices of €1.246 (US$1.747) the lowest in Europe.

 

The price-drop was largely due to a 7-percent growth in production, which saturated the market.

 

ISN does not expect more price drops, as exports to Russia are growing again and the Hanover futures market is hopeful with more higher value contracts.