Ten-month peak in EU prices is short-lived

EU pig prices continued to fluctuate throughout June and early July but with no clear direction being established according to AHDB Pork.

After reaching its highest level for 10 months in late June, the average then fell back again, settling on €145 (£103) per 100kg, which was around €24 (£17) lower than at the same point last year.

Increased supplies, coupled with sluggish demand, continued to put pressure on returns, added AHDB Pork.

“Combined with a further weakening of the euro, this means that the gap between UK and EU prices has widened again, reaching almost 30p/kg in the latest week,” it said.

The fall in the EU average price over the last four weeks was mainly confined to northern member states with German, Dutch and Danish prices all down while southern prices “remained firmer”.

The Greek market has developed into something of a special case, of course, with the market being “effectively closed due to the lack of cash available to pay suppliers”. The lack of imports meant that Greek pigs recorded the highest continental prices at over €170 (£121) per 100kg.

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