EU pig prices appear to lose ground in June
Market analysis from Bethan Wilkins, senior analyst with the AHDB, shows that May’s upward trend in EU pig prices has fallen away.
For the week ended 20 June, prices were back to €163.66/100kg, the lowest level in four weeks. Overall, the EU average pig reference price still increased by nearly €3 over that period, but there was more than a €2 decline in the latest week. Nonetheless, prices remain above year earlier levels, as has been the case since late May.
The recent weakening in the market is primarily driven by demand-side factors. There are reports of subdued meat markets in several Member States, when there had been expectations of growth as foodservice restrictions ease. In southern states, a limited tourist season is also having an impact. At the same time, export demand has been stalling, with sales to China now reported as lower than had been expected. Although live pig supplies are apparently not particularly large, it seems the limitations on demand at the moment mean numbers are more than ample to meet demand.
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