After several months of decline, the EU average reference pig price finally stabilised across November, falling by less than €1/100kg, and remaining steady for the past three weeks.
AHDB analyst for red meat, Rebecca Wright, commented that although prices had reached a point of stability, they were still low as in the week ending 21 November the measure stood at €128.58/100kg, significantly below the five year average.
Ms Wright also noted that whilst export demand is still slow-moving, there is renewed optimism that China could be looking for more protein soon, and that demand within the EU may rise as we head towards Christmas.
EU production appears to still be strong, however fewer very young pigs on the ground in June might indicate a drop in supplies soon.
Of the major producers Spain, a key exporter to countries outside the bloc, recorded the largest decline (-€4/100kg).
“Spain, in contrast to many other countries, recorded an increase in its pig herd during the summer, suggesting supply is ample,” Ms Wright explained. “Reports indicate demand for Spanish pork is challenged,” adding that prices were steady in Germany, the Netherlands and Poland.
