Pork
Pork
Price movements (monthly)
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EU Pork - BW56
Month-on-month Change
Year-on-year Change
US Pork - 3788
Month-on-month Change
Year-on-year Change
EU
- The Expana Benchmark Price (EBP) for Pig Deadweight Grade S EXW Europe [Expana Code: BW56] was assessed at €1,980/mt on August 26, down by €50/mt on the month.
- Supply for pork meat across the EU grew during August, according to market sources, with an increased slaughter numbers reported during the month, weights were reported as in line with seasonal expectations.
- Cold storage levels were reported as weak, following steady demand during the summer holiday period.
- Buying interest was reported as lackluster with limited demand across the EU market meeting weak international buying.
US
- The dressed price of US negotiated hogs [Expana Code 3788] was $1.08/lbs on August 26, down slightly on the month but 30.1% higher year-over-year (Y-O-Y).
- US hog prices in August remained supported by barely adequate market-ready hog supplies due to persistent disease pressure.
- Live hog weights fell by 4 lbs M-O-M in July to 282 lbs, in line with seasonal trends.
Pork
Price drivers
↓ Logistics
The shipping 40ft container composite decreased by 12% M-O-M and 56% Y-O-Y to $2,340 per unit in August. The decline in freight rates is explained by the fact that a significant portion of cargo was shipped in advance in July to avoid the August tariff deadlines, after which volumes fell sharply. The growth in container capacity added additional pressure, which has exacerbated the problem of global overcapacity. As a result, carriers have been unable to maintain prices, and rates on key routes continue to fall.
↑ Feed Costs
Feed grains are a significant component of livestock production costs. As a result, any price decreases in maize (corn) and wheat could push prices of animal protein downward.EU wheat prices fell month-over-month due to strong production outlooks, with concerns over grain quality easing as harvests wrapped up in dry weather. German wheat output rebounded, up 21.9% year-over-year.
EU corn prices also fell in August, influenced by bearish global fundamentals, such as higher-than-expected US yields and record output in the US and Brazil. While Ukrainian corn production forecasts rose, crop stress from dryness across Europe helped limit further losses in futures markets.
↑ Energy Prices
Electricity prices in Europe and the US fell by less than 1% month-over-month. As a result, production costs remained virtually unchanged from the previous month. Given that scrap steel and electricity prices changed insignificantly, the cost of steel production in electric furnaces remained stable in August.
Pork
Price forecast
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