Analysis Pigs

Significant corrections in pig prices

July 3, 2024 - Wouter Baan

The mild reduction at Vion earlier this week, when viewed retrospectively, was just a taste of what the market was (and still is) facing. Other slaughterhouses in the Netherlands are reducing much more today, and the German quotation is plummeting even more.

After a record-long stable period, the VEZG quotation drops by a whopping €0.10 to €2.10 per kilogram, the largest correction since January. This reduction is likely to be followed by the major German slaughterhouses. In the Netherlands as well, the boards are turning red. Van Rooi and Compaxo both reduce by 5 cents to €1.92 per kilogram.

Pressure on meat prices
Although these significant downward adjustments are alarming the sector, the price pressure did not come out of nowhere. The weekly meat price changes from DCA Market Intelligence have been under pressure for some time. In addition, slaughterhouses have been discussing the sluggish meat sales to a greater or lesser extent for some time.

This year, especially the wet and relatively cold spring and summer weather, is the main spoiler, just as there are tensions in the market surrounding the advancing African swine fever virus and trade disputes between China and Europe. Furthermore, the approaching summer holidays in Northwestern Europe are weakening the market. These factors currently weigh more heavily than the limited supply of pigs.  

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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