Meat & Poultry
Pork
In December, the average price of EU pork reached EUR 1,406/MT, up 1% m-o-m and 5.1% in line
with an increase in exports to China and rising domestic demand in the run-up to Christmas.
According to market participants, supply and demand are now more balanced compared to a few
months ago. The Danish, Polish and German pork prices showed a strong recovery from midDecember,
due to an increase in demand from the retail buyers.
The monthly average price of US pork on the Chicago Mercantile Exchange (CME) increased by 5.7%
m-o-m and 21.8% in December 2021, to USD 1,883/MT, on the back of supply tightness in the
market. The Federally Inspected (FI) slaughter number in November reached 11.1 million heads,
down 3.7% y-o-y. US pork processors are working around operational constraints and paying higher
prices for reduced numbers of slaughter-ready hogs, thus exerting upward pressure on US pork
prices.
The average price of UK pork fell by 1.6% m-o-m and 4% y-o-y, to GBP 1,402/MT in December, as
live pig supplies continued to exceed available processing capacity, while the backlog of pigs on farms
persists. Also, labour shortages continue exerting upward pressure on UK pork prices. The private
storage aid scheme, announced in October 2021, which included visas for 800 foreign pork butchers,
has been extended to 31st March 2022. However, market participants have described the scheme as
too little, too late and that it has failed to provide any support to prices.
900
1,100
1,300
1,500
1,700
1,900
2,100
Dec 19 Mar 20 Jun 20 Jun 21 Sep 21 Dec 21
Pig ddwt grade S mp EU - EUR/MT
Sep 20 Dec 20 Mar 21
BW56 - Pig ddwt grade S mp EU
1,720
1,620
1,520
1,420
1,320
1,220
Nov 19 Feb 20 May 20 May 21 Aug 21 Nov 21
Pig ddwt spec ave (UK) GB - GBP/MT
Aug 20 Nov 20 Feb 21
AX02 - Pig ddwt spec ave (UK) GB
1,900
1,700
1,500
1,300
1,100
900
2,100
2,300
2,500
Nov 19 Feb 20 May 20 Aug 21 Nov 21
LHGS - Pig hog ddwt lean CME Chic US (DH-3)- USD/MT
Aug 20 Nov 20 Feb 21 May 21
LHGS - Pig hog ddwt lean CME Chic US
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