Analysis Pigs & Pork

German pig price has never been so stable

June 26, 2024 - Wouter Baan

Already eighteen weeks the German pig price has been at €2.20 per kilogram. This week, the leading price in Europe remains unchanged. Stable periods are not uncommon in the pig market, but it has never lasted this long in recent history.

Also around the turn of the year, there was a stable period when the VEZG price remained unchanged for fifteen weeks in a row. In the years before, stability usually lasted for a maximum of ten weeks. Going back further in time, stability was usually limited to about five weeks. In that respect, the current stable market sentiment in Germany is unique. In the Netherlands, there has been some movement in pig prices in recent months, but within a limited range. In general, Dutch prices have also been stable for a long time.

Many pig farmers would have gladly accepted such stability at a historically high price level a few years ago, but today things are different. Cost inflation in the chain means that the current price level for pig farmers is often just enough to stay in the black. Especially the high piglet costs are making themselves felt.

Uncertainty crept into the market
That's why there was hope in the market that pig prices would rise in the run-up to the summer holidays, supported by the nice weather and sports events that boost meat consumption. At the moment, however, this is not a feasible scenario. Uncertainty has crept into the market, partly due to African swine fever in Germany and trade tensions between Europe and China.

Wouter Baan

Wouter Baan is the editor-in-chief of Farmerbusiness and a market specialist in dairy, pork, and meat at DCA Market Intelligence. He also tracks developments within the agribusiness sector and conducts interviews with CEOs and policymakers.

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