Inside: Pig Market
German pig price on the verge of collapse
Things have been rumbling on the German pig market for some time now. The fact that the Internet stock market has gone down considerably means that the German pig price, Wednesday afternoon 25 October, will most likely also take a hit.
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The Internet Exchange fell by as much as €0,07 to €1,47 per kilo on Tuesday afternoon. This means that the market indicator is now €0,03 below the German pig price. It is feared that the North/West quotation will decline at a similar pace on Wednesday. The fact that only 3 of the 18 lots have been traded further underlines this threat.
Bad harbinger
The reduction was already in the air at the end of last week. Various traders then reported that German slaughterhouses only wanted the pigs from Thursday (on new listing). Usually this is a bad omen.
Nevertheless, the change in the Internet Exchange still comes as a surprise. Most assumed that the German pork price would end October unchanged and that the storm would not break until November.