The reference price started to decline in week ending 9 July, following 20 consecutive weeks of gains. Nonetheless, in the week ending 23 July, the EU pig reference price fell by €6.72 to €170.25/100kg the lowest price recorded for this series since mid-April, the quote remained above year earlier levels by €7.71/100kg. It isn’t uncommon for EU pig prices to level off during the summer holiday period, before dipping in September. However, this earlier decline in pig prices could indicate a shift in the EU supply and demand balance.

The European slaughter pig market continues to be well-balanced in August, almost all quotations tend to remain constant and steady. Not least because of the stimulus missing on the meat market and because of the massive stress of competition experienced on the pork export markets, price quotations of slaughter pigs are missing room for a price increase. This explains why the quotations are hardly moving. The slaughter pig quotations are slightly weaker on the Spanish, French and British markets. With the slight drop in temperatures in Spain, pigs are growing faster again because of improved feeding. Despite the slightly decreasing prices, Spain still ranks first within the European price structure of the five EU member countries most prominent in pig-keeping, reporting an average price of a corrected €1.88. Meanwhile in France, last weeks’ downward trend is continuing. Reporting a price drop of 2.6 cents, the French are sliding to third place.