Copyright © 2021 Mintec Limited Contents
The average price of EU pork reached EUR 1,738/MT, up 2.9% m-o-m and 5.9% y-o-y in June 2021,
driven by an increase in demand from China. The reopening of the foodservice sector in some
regions has supported the price increase. The limited live pig supplies from some member states,
such as Germany, have supported EU pork prices further.
The monthly average CME price of US pork dropped by 16.6% y-o-y in June to USD 2,008/MT, as the
market reacted to reports of growth in the Chinese pig herd size, dramatically reversing its bullish
trend. However, the monthly average CME price of US pork rose 77% y-o-y as the pig inventory
totalled 75.6 million head, down 2% y-o-y. Some US pig producers have reportedly had issues with
herd health lately, which could result in the lower breeding numbers in the short term.
The average price of UK pork rose by 4.4% m-o-m to GBP 1,535/MT in June, in line with the demand
recovery from the foodservice sector. High feed prices and straw (feed) shortages have supported UK
pork prices recently. The UK pork price declined by 5.2% y-o-y on an average basis in June as the
export ban from China persists, leaving a high volume of pork in the UK market. However, a sharp
rise in feed ingredient prices has prompted some pig producers to quit the industry, which could
tighten supplies in the market and exert upward price pressure on UK pork prices.