EU Pig Price Decline Brought to a Halt23 July 2014
EU - The European pig slaughter market is still rattled this week. It has been for the third time in a row that Germany took numerous quotations down with it such as the Dutch, Belgian and Austrian ones.
As a Spanish market observer commented, they were the epicentre of the tsunami disaster.
In Ireland the quotation also went down by a corrected 3.8 cents. The decrease proved to be 2.7 cents in Denmark. As a consequence, Denmark ranks third in the European price structure among the five major pig-keeping EU member countries, being ahead of Germany now.
It is also remarkable that, untypical for this time of year, the Spanish price went down by a corrected 2.5 cents, however far more moderate than the price recesses observed in Central Europe.
Nonetheless, the price gap between Spain and Germany is growing, meanwhile amounting to 36.5 cents.
Germany and Austria closed ranks, now reporting aligning average prices of a corrected 1.546 and 1.54 euros per kg slaughter weight.
France was able to restrain from the pan-European trend towards weakness. Despite the French national holiday the quotation maintained a corrected 1.682 euros, just below the price level achieved so far.
Trend for the German market: According to the markets, the situation eased off noticeably on the slaughter market over the past few days. The stimulus needed was provided for the meat business despite the hot temperatures. Many people met for barbecues, thus causing the food retailing to reorder merchandise. There is much more demand for pigs for slaughter from the slaughter companies, so the quantities on offer are no longer urging. As proved by the Inter Pig Auction results, rock bottom should hence be hit.
Prices in Euros (€)
ThePigSite News Desk