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This year we once again asked our users about their expectations for the pig market in the current year, asking them what they think the pig price will be in 2024. The survey, conducted between February 12 and March 12, involved 735 participants from 71 countries. From the filtered data, the results of 567 responses from 19 markets analyzed are shown in the following graph.
Pig price forecast in 2024: Comparison between 333 users' predictions (collected between February 12 and March 12, 2024) and the actual average price in 2022 and 2023. For each country, the range of responses is shown by the orange bar, where the maximum, minimum, and median values are represented. The actual average price in 2022 and 2023 is indicated by blue dots. The number of data analyzed for each country is shown in parentheses.
Forecasts for the European Union markets remain very high, as seen in the graph. Although all of them except Romania are below the average price of the previous year, remember that these values are practically equal to the 2023 historical records in Germany, Italy, and Romania, or between the 2023 records and the previous 2022 records, as in the case of Spain, France, and Poland. The same pattern is observed for the United Kingdom's market. Russia, on the other hand, shows a somewhat different pattern, with record forecasts.
Users in the Americas expect prices to be slightly higher than in the previous year. Argentina is the exception with the forecast range being well above that of previous years due to high inflation. In the case of Colombia, users expect pork prices to increase much less than in recent years, but enough to reach an all-time high.
In Asia, most users in China and Vietnam expect prices similar to those of 2023, with a tendency towards certain stability due to the recovering pig inventories following the devastation caused by African swine fever.
We also include information on the African continent, where high prices are also expected for the South African market.
333 Staff
