Pigmeat prices in the biggest six EU producer countries have broken the 107p/kg barrier for the first time since March 2001.
Traders are quoting low stocks and high demand, boosted by sizzling temperatures and an influx of visitors to Germany for the World Cup as the main reasons for the strong market.
German farmers are now receiving average prices of 115p/kg for heavy carcasses between 85 – 90kg deadweight.
These prices are the highest in Europe with the exception of Italian Parma ham production.
The latest GB Deadweight Adjusted Pig Price stands well behind comparable EU prices at 103.2p.
Supply restrictions following foot-and-mouth outbreaks in Brazil have increased Russian demand for pigmeat.
The trade has helped to lift cull sow prices with UK exporters quoting prices between 81–84p/kg compared with 74p/kg a year ago.
There are hopes that rising pigmeat values could feed through to the weaner market where prices are still relatively static.