Election uncertainty stalls pig markets
This week, all eyes are on the American election, especially in agricultural markets.
There was no change to Irish pig price on Friday last with producers reporting quotes ranging from €2.08-€2.12 available from processors in ROI.
The SPP (Standard Pig Price – no premium) in the UK reported by AHDB currently is £2.04/kg (€2.44/kg), while the APP (All Pig Price), average price for all pigs is £2.06/kg (€2.47/kg).
The EU average price in week 43 for Grade E carcass was €1.97/kg excluding vat. This represents a drop of -3.3% over the past month and is -7.4% behind last year’s EU average price for the same week.
This week, all eyes are on the American election, especially in agricultural markets, where operators have been cautiously awaiting results. Beyond euro/dollar shifts, international trade policy, particularly Trump’s record with China, is in focus.
This uncertainty has been limiting price rises; Euronext wheat remains around €215/t for December. French wheat’s lack of competitiveness, noted in GASC’s recent tender, is also holding prices down. The European Commission reported low export volumes compared to last year, aligned with lower production, though a jump is anticipated in the second half of the year. (Agritel).
Factory throughput for the week ending November 3 was 55,249 head, which was 11,861 less than last week and 1,371 less than in the corresponding week in 2023.
