Global pork prices are continuing to run about 25% below 2014 levels, despite a modest recovery in May, which carried over into June, according to a new analysis of market trends by AHDB Pork.
Having reached their lowest point in April, 24% below the same month last year, the modest price recovery since then is due, according to AHDB Pork, to an increase in global import demand in the second quarter of the year.
“This analysis is based on export prices for the four main global exporters, the EU, US, Canada and Brazil,” it said. “Prices began falling in mid-2014 and continued to decline until they reached the lowest level for at least five years in April.
Although the May/June improvement is only small, it still allowed the major exporters to increase shipments in Q2, 2015, after three successive quarters of declining volumes, with the upturn in business being “especially apparent in shipments from the US and Brazil”.