October 10, 2008


EU meat market prospects on a shine

The mid-term perspectives for animal products are relatively positive for poultry, pork and dairy markets, while beef production is expected to continue its decline, according to the Whole Hog.


The Whole Hog said EU pork production is estimated to have increased 1.3 percent to 22.14 million tonnes in 2007. As a result, imports are projected to fall 71.5 percent to 30,000 tonnes, while exports would reach about 1.3 million tonnes.


Production in the medium term is projected to increase at a slower rate than in the 90s but overall meat consumption is expected to rise from about 84.5 kg per head in 2006 to 87.2 kg per head by 2014.


Intervention cereal stocks have dropped due to strong cereal prices and poor harvests over the last two years, according to the Whole Hog.


The Whole Hog's global pig prices index showed a sharp increase in recent weeks, and even a fall in US prices was not enough to stop the upward momentum.


US prices are still 18-percent higher than last year, while Canadian prices and Danish prices are 25 percent and 21 percent higher, respectively.


Average EU pork producers' prices reached EUR 174.61 in the second week of July, the highest level since April 2001. EU prices were still rising through the summer, and in August prices were 18.6-percent higher on-year, the Whole Hog said.


Germany and Eastern European countries marked the highest prices.

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