EU pig prices: markets mixed and fears rise as more US meat plants close
While some quotes remain stable this week, others have dropped, and COVID-19 concerns are impacting trade globally.
23 April 2020
2 minute read
By: ISN reports that pig prices remain largely unchanged in Germany, Denmark, France and Austria this week, despite the drop in payment offered from German packing plants.
The Dutch quotation has observed a marginal 1 cent decline whereas prices in Spain and Belgium have dropped significantly.
The UK is seeing some positive signs as prices increase slightly.
The German and Dutch markets have recorded the heaviest price fall over the past seven weeks with a drop of 18 and 22 cents respectively. In Spain and Denmark, the prices have fallen by 11 and 12 cents in the same period.
The effects of the COVID-19 pandemic are far-reaching and are being felt by all markets. Fortunately, in the EU, supply of live animals has remained manageable so far but those in the east are experiencing restricted export which means a backup of live animals is likely imminent. The closure of pork plants in the US is a serious concern as we have observed the rapid decline in pig prices and the backlog of live animals not reaching slaughter on time.
Those with considerable exports to China are feeling the relief of having this huge market on-board.
1) corrected quotation: The official Quotations of the different countries are corrected, so that each quotation has the same base (conditions).2) These quotations are based on the correction formulas applied since 01.08.2010. base: 57 percent lean-meat-percentage; farm-gate-price; 79 percent killing-out-percentage, without value-added-tax. © ISN
