EU pig price steady but remain below five-year average

The EU average pig reference price fell slightly in January, slipping €0.41, to €131.53/100kg, AHDB has reported.

Whilst the price in January was higher year-on-year, the gain has been marginal and it remains significantly below the five-year average.

Chart showing the low level of European pig prices

AHDB senior analyst for red meat, Rebecca Wright, said that Spanish price has found some support in the past few weeks, with industry commentary from Spain suggesting the slight price rise is a result of the ASF outbreak in Italy and optimism of being able to take Italy’s Chinese market share.

Ms Wright also noted, however, that there is ample pork in cold storage in Spain, and until some of that is cleared there is a limit to how much prices can rise.

Elsewhere, German prices lost some ground while prices in Denmark remained steady. Poland’s prices had been supported in the run up to Christmas by the additional seasonal demand, but have since dropped.

Ms Wright added that over January the UK reference price also tracked sideways: “The gap between the UK reference price and the EU reference price remained static at just shy of €40/100kg.

“Although this is narrower than recorded through most of the latter half of 2021, it still highlights the degree to which the EU market is oversupplied, and how much cheap product is available.”

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