August 2, 2016

 

EU pig prices continue to rise in June-July
 

 

EU pig prices continued to rise in June and July, with reference price of €162.54 (US$181.58)/100 kilogramme for the week ended July 24.

 

This was the highest level since September 2014, and over €18 more than the same point last year, according to AHDB Pork.

 

The EU average reference price increased by over €7 over the latest four weeks. While this is still a significant rise, it is slower than the price increase recorded over the four weeks prior to this period, the pork division of the UK's Agriculture & Horticulture Development Board noted.

 

The AHDB Pork attributed this strengthening of the market to a tightening supply against the backdrop of increased demand. It said tighter supplies in some member states had occurred earlier than forecast.

 

"Domestic demand has been supported by the barbeque season well underway in northern Europe, while the tourist season is in full swing in the south of the continent. Furthermore, export demand, particularly for China, continues to hit record levels", it said.

 

All the major producing states recorded rising prices over the latest four weeks. The dominant German price increased over €8 ($8.94) over the period, while the Spanish price increased by almost €10. The Irish and Dutch hikes were more modest, at €4.15 and €2.27, respectively.

 

The UK reference price continued to fall behind the EU price as the EU market increased momentum and the pound weakened following the Brexit vote. "As at week ended 24 July, the EU average price stands at just under 9p/kg more than the UK price, at 136.07p/kg", AHDB Pork said.

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