The global pork industry has experienced a positive Q3, according to Rabobank’s Q4 Pork Quarterly. In line with expectations, the Rabobank five-nation hog price index continued its upward trend, resulting in a peak of 162% in August, just below the last peak of 165% in August 2008.
Compared with Q2 2013, pork prices in Q3 2013 showed double digit increases in almost all major producing regions. The main drivers were tighter-than-expected supply in the US, due in part to the impact of the porcine epidemic diarrhoea virus (PEDV), and the EU, due to the impact of the EU’s introduction of group housing of sows in January 2013, and continuing robust import demand. .
For the remainder of the year, global pork prices are forecast to remain elevated.
Into 2014, declining feed costs will continue to support slow herd rebuilding.
Tuesday October 22, 2013/ Rabobank.