EU Pig Prices: Knot is Cut - Prices Finally Go Up02 June 2014
EU - A Gordian knot – but now it’s finally cut. A major part of the European pig market’s quotations is going up, after the prices trod water over weeks in central Europa, despite the scarce quantities on offer.
Germany stagnating in particular had a paralysing effect on the other quotations.
Then, last Wednesday, Germany set the decisive sign, its quotation increasing by 8 cents. This way, Germany pushed itself forward to rank second behind Spain within the five major EU pig-keeping countries. Thanks to this pre-setting, the Dutch, Belgian, Austrian and Danish quotations also went up by a corrected 2.7 to 7.4 cents. The Spanish were also able to quote slightly higher.
The French quotation still continued the downward price trend it had shown over the past weeks. Yet, at a corrected minus 1.8 cents, the price decrease was far less serious than it was with the previous quotations. That might have been caused by the German price increase.
Trend for the German market:
Over the next few days, nothing fundamental is going to change with the friendly mood prevailing on the pig slaughter market. The supply situation is manageable; so, this week’s missing day of slaughter (Ascension) will do no damage. Today’s Internet Pig Auction result supports a union price that remains at least unchanged on Wednesday.