EU Meat Prices to Rise Further on Increased Demand, Lower Supply
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European Union meat prices will extend gains after pork rose to the highest since 2008 and beef jumped 15 percent in the past year on increased demand from China and as herds shrink due to high feed prices, according to Rabobank International.
Pork prices in the EU rose 10 percent to 1.56 euros ($2.24) a kilogram (2.2 pounds) in the year through June to the most in almost three years, and beef gained to 3.44 euros a kilogram, European Commission data show. Corn, used as animal feed, in Chicago has gained 71 percent in the past year and feed wheat in London jumped to a record on April 20.