News Pig market
Strong write-down for German pig price
The tension in the German pig market was clearly noticeable in recent days. A wider range and disappointing meat sales made Vion decide to announce a 'Hausspreise'. The German pig price (VEZG) is also taking a heavy blow.
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The German pig price will drop this afternoon (October 19) by €0,10 to €1,90 per kilo. This downgrade did not come out of the blue. In recent days it was clearly noticeable that the pressure was building up. The German branch of Vion took the initiative at the end of last week and announced a reduction. The other slaughterhouses in Germany did not do this, but they did raise the necessary mood in the background. With the reduction of the German price they now have the upper hand.
Slaughterhouses rely on a wider pig supply and a difficult, uncertain meat market. European meat sales are faltering due to high inflation, which is putting pressure on the purchasing power of consumers. In addition, slaughterhouses are not keen to build up frozen stocks, due to high energy prices. There are signals that point to improved sales of by-products to China, although this has yet to be confirmed. All in all, the pork market feels shaky right now. The reduction in the German price will also have an impact in other places in Europe, not least in the Netherlands.