EU pig prices are continuing to fall, declining more sharply than normal for what is often a difficult period of the year, according to BPEX.
During the four weeks to October 19, the average EU pig price fell by 15 to 142.79 per 100kg, with the average finished pig price now being 37 below 2013 levels for the same week. Prices have now remained well below last year’s level since July.
“Subdued domestic consumption and the loss of exports to Russia, which normally peak during the autumn, are still putting pressure on EU pig prices,” said BPEX. “Reports also suggest a modest increase in supplies since the summer, while demand from other export markets may also be beginning to ease as the effect of PEDv diminishes.”
For the latest week, ending October 19, the EU pig price was 46 below the UK pig price (equivalent to 37p/kg). This was close to the record gap recorded in the previous week and significantly higher than the 20 difference in the same week in 2013.
Almost all EU countries recorded falling prices in the latest 4-week period, the largest decline being in Spain, closely followed by the Netherlands and Belgium. The smallest downward movement was recorded in Poland and Ireland.