European Union pig prices were stable following a decline last week as slaughterers reduced a meat surplus, according to industry group Interessengemeinschaft der Schweinehalter Deutschlands e.V.
Hog prices in Germany, the EU’s biggest producer, were unchanged at 1.596 euros ($2.12) a kilogram (2.2 pounds), Damme, Germany-based ISN wrote in an online report today. That’s after prices dropped last week from 1.626 euros.
Pork accounts for about half of the meat consumption in the EU. Per-capita consumption of pork in the 27-nation bloc is set to fall to 40.26 kilograms this year from 41.15 kilograms in 2012 due to the economic downturn and high levels of unemployment, the EU forecast last week.
“With the onset of winter, the slaughter-pig prices in Europe are stabilizing,” ISN wrote. “The overhang built up over the year-end is now finally reduced and slaughter-pig prices can finally hold their ground.”
Spanish, Dutch, Belgian and Austrian pig prices were also unchanged, while in Denmark the price of a kilogram of pork climbed a 10th of a cent to 1.657 euros, ISN said. French prices fell to 1.58 euros a kilogram from 1.603 euros.
“In France, the price listing has for a long time defied the European trend toward weakness and now has succumbed, because demand is too weak in comparison with the available supply,” ISN wrote.