According to AHDB Pork report, based on the prices of the four major exporters (the EU, US, Canada and Brazil), the average export pork price finished 2015 at $2.38/kg. This is the lowest level for over six years, $0.57 lower than the same point last year and over a dollar less than the price peak recorded in June 2014.
Several factors have combined to drive down value in the global pork market. The well documented supply glut following the Russian bans in 2014 has put downward pressure on EU, Canadian and US prices. The EU price has only just started to stabilise in January 2016, in no small part due to the short lived Private Storage Aid scheme. However, the EU price is now at a 12 year low. Coupled with this, the increased production levels in the face of subdued consumer demand have further negatively impacted prices.
Monday March 7, 2016/ AHDB Pork/ United Kingdom.