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EU pig prices: coronavirus puts pork markets under pressure

The European pig market is being shaken by the ongoing COVID-19 pandemic, with prices falling rapidly for some market members.

20 March 2020, at 9:21am

ISN reports that market-leading slaughter companies have increased the pressure on prices due to temporary increased hog supplies and the uncertainty over the full-scale impacts of coronavirus.

Echoing the leading German prices, the quotations in the Netherlands, Denmark, Belgium and Austria fell noticeably. The Danish price decline was moderate compared to other markets. In Spain, prices remained stable at the level achieved last week, while the French market prices increased slightly at a low level. All in all, quotations are moving closer together again.

There is great uncertainty among market participants across borders. The limitations of public life primarily affect logistics. The Italian sales market should be mentioned here. The companies are also reluctant to let their drivers drive to destinations with a high infection potential.

The slaughterhouses are reportedly still running smoothly. The supermarkets are also open in the risk areas and the supply of the citizens is guaranteed. Nevertheless, market participants are particularly concerned about the availability of personnel in the slaughtering and processing plants.

Shipping traffic to and from China appears to be picking up speed again. However, jammed containers in the ports are not yet fully cleared.

European pig price comparison by the ISN
European pig price comparison by the ISN

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