EU pig prices continue to fall

 Over the past month, hog prices have continued to fall across much of the EU. This reflects insufficient demand in both the domestic and export markets due to increased pork production this year.

In the four weeks ending August 22, the average EU pig price fell by more than 6 euros to just under 145 euros per 100 kg. This is the lowest level since March. Pig prices in the EU are usually quite stable during the summer months, so the recent drop means the latest average is now 11% lower than the 5 year average for the time of year.

Prices fell for most major producers (except Poland), but the largest declines were in Germany and Spain. The average price in both of these countries has fallen by more than 10% over the past four weeks. Spain is particularly affected by weakening export demand in China, while Germany continues to struggle with limited export opportunities to third countries due to ongoing outbreaks of African swine fever within its borders.