The three-month average price for EU pork (May-July) has jumped 18% against the previous three-month average (February-April), exceeding Mintec’s previous forecasts. Supplies of slaughter-ready pigs were falling short of demand in May, especially in leading producing country Germany. Similarly, the May-July average price of US pork has increased significantly, by 27% against the previous average (February-April). Prices have followed usual seasonal patterns, with domestic demand rising over the past three months.
Intensified demand from China for EU and Brazilian pork, has caused prices from these regions to surge. As a result, EU prices are at a premium on international markets. The Brazilian pork value has surpassed prices in North America.
From weather to political, all the factors impacting the pork market have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.