Nov. 6 (Bloomberg) -- European Union pig prices bottomed out this week, with levels stabilizing in Germany and the Netherlands, German industry group Interessengemeinschaft der Schweinehalter Deutschlands e.V. reported.
German pig prices were stable at 1.776 euros ($2.27) a kilogram (2.2 pounds), halting a three-week slide, Damme, Germany-based ISN wrote in a report on its website today. Prices in Spain fell for a fourth week, while those in France declined for a sixth week, the report showed.
Germany is the EU’s biggest pork producer, followed by Spain and France, Eurostat data show. France slaughtered fewer animals due to the Nov. 1 holiday, and prices there fell to the lowest among the EU’s five biggest hog producers, ISN said.
“The European slaughter-pig market this week reached the bottom and is in a consolidation phase,” ISN wrote. “French pig breeders, in comparison with other European countries, in the past six weeks faced the most extreme price decline.”
The EU has forecast output of pig meat in the bloc will decline 3.2 percent next year on higher feed costs and new animal welfare rules.
German pig prices last week fell to the lowest since the week of Aug. 21, and are still up 13 percent from the same time a year ago, ISN data show. Dutch pig prices were unchanged this week at 1.714 euros a kilogram, while prices in Belgium and Austria were also stable from last week.
French prices fell to 1.701 euros a kilogram from 1.724 euros last week, while those in Spain slipped to 1.837 euros from 1.873 euros, according to ISN.
To contact the reporter on this story: Rudy Ruitenberg in Paris at email@example.com
To contact the editor responsible for this story: Claudia Carpenter at firstname.lastname@example.org