Pig prices in the European Union have continued to climb over the past two weeks, but in U.S. dollar terms, the weakening of the euro following the Brexit referendum erased these gains. EU prices increased 8 percent over the past month to move 7.5 percent higher year-over-year, but are still outpaced by the U.S. price rally, keeping U.S. prices above the EU level for the past 11 weeks.

At 157.46 euros/100 kg, ($78.97/cwt), EU prices are still 4 percent below the average posted from 2010 through 2014. Of the largest-producing member states, Germany’s prices are highest at 165 euros/100 kg, up 12 percent year-over-year, followed by Spain (157, +2 percent), Poland’s (156, +9.5 percent), France (149, +3 percent) and the Netherlands (149, +15 percent). Denmark’s prices are lowest at 143, up 4 percent from a year ago. Following the Brexit vote, UK prices dropped 5 percent from the previous week, partly reflecting the weaker pound, pushing prices 20 percent lower year-over-year. After tracking well above the EU average, UK prices have trended lower this year, hitting 147 euros/100 kg last week.

EU piglet prices have trended higher for the past eight weeks and are now up 13 percent from a year ago at 43.57 euros/head, which is still 2 percent below the 2010-2014 average.