After rallying in February from very low levels, EU pig prices retreated during the first two weeks in March. Despite the recent launch of the EU’s private storage aid program, its prices have succumbed to a downward global trend that has pushed hog prices in all major pork producing/exporting countries below year-ago levels in U.S. dollars, reflecting ample global supplies and the strength of the dollar.

Mid-March prices in the EU averaged $68/cwt, down 9 percent year-over-year in euros and 30 percent lower in U.S. dollars. Prices were down for all major producers, including Spain (-19 percent year-over year, in euros), Denmark (-8 percent), France (-8 percent), Germany (-7 percent) and Poland (-4 percent). EU piglet prices have maintained a positive trend, increasing in nine of the past 10 weeks, but are still down 11 percent year-over-year to 44 euros (about $47) per head.