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Theglobal pork industry searched
for stability during the first quarter of 2015, with strong supply growth and
relatively weak demand driving the market,Rabobank stated in its pork
quarterly report for the second quarter. The report was released on April 17.
Pork prices are sharply
lower, as robust global supply growth, which has been driven by the United
States, Russia and Brazil, has outpaced rather subdued demand, dragging
producer profitability into negative territory, the bank reported.
Rabobank animal protein
analyst Albert Vernooij said: “The increasing competition in the global export
market will result in continuous price and margin pressure in most countries
around the globe. Therefore, after the buoyant — at least price-wise — last
couple of years, the global pork industry is slowly moving towards the bottom of
In the U.S., as supply
recovers afterporcine epidemic diarrhea (PED) virus infection, the question is
as to what degree recovery will be coupled with the strengthening U.S. dollar
and lower prices.
In the EU, prices will follow
seasonal developments, but will remain lower than the historical average and
below break-even level.
Brazilian prospects remain
positive, but less buoyant than in the first quarter, driven by pressured domestic
consumption and difficult Russian export negotiations.