Large Quantities Force EU Pig Prices Down11 September 2013
EU - The European pig slaughter market is weakening in the face of growing numbers of pigs.
Germany progressed decisively after the meat-processing side had started to build up pressure at the beginning of last week. In consequence of larger quantities of pigs on offer, the German quotation went down considerably by 8 cents. The neighbouring countries’ quotations (Netherlands, Belgium, Austria) were carried away with it.
The Spanish, French and Danish quotations appear unimpressed by the downward movement, responding with their moving sidewards.
Great Britain even went up slightly. According to the topagrar magazine, the Spanish pork exports went down strongly by 13 per cent over the first six months of this year, compared with the previous year’s figures. Exports towards Russia in particular had gone down by as much as 24 per cent.
The Spanish currently pin their hopes on the Russian inspectors’ travelling of Spanish slaughterhouses. It was reported by the Spanish that some plants might start exports towards Russia again in October.
Trend for the German market: As a result of larger numbers of live pigs on offer, the marketers’ order books have partly been filled by mid-week.
Late registrations made by the producers because they are afraid of having to face a further price decline made the pressure increase. So, short-term deliveries are hardly possible. From various market participants’ point of view there is reason to hope for pressure to go down over the week and the price to keep up.
|Prices in Euros (€)|