Pork Price Update
Pork prices have remained relatively stable over the past two years, following healthy European supply, low feed prices and a steady customer demand.
However, the price of pork is now expected to increase dramatically. China has suffered an epidemic of African Swine Flu, greatly affecting pork numbers according to the Global Agri-Trends report. The virus is hard to kill, highly transmittable and a vaccine is still years away, resulting in a 15% reduction in Chinese pig herds, the equivalent of 1.8 million pigs per week (10% of world production). This has decreased domestic pork supply by 60% and China is now sourcing European pork to balance the supply shortage, putting large pressure on EU Markets. The price of EU pork is increasing dramatically with predictions that this is likely to continue for some time.
The volatility in the pork market is expected to last at least until the beginning of June, when prices should level off. Whilst this is an undesirable situation and the price rises are unavoidable, Leathams will continue to work hard to ensure the quality of our pork prouducts remain at an excellent standard throughout this challenging period.
For any questions regarding the changes in pork product pricing, please email email@example.com