18.
02.26
European impetus gives the pig market a foothold

Schweine News, 18/Feb/2026

Bullish
  • Increasingly balanced ratio of slaughter pigs
  • Declining slaughter weights
  • Revival in the piglet market with rising demand at home and abroad
Bearish
  • High freezer stocks and subdued domestic sales
  • ASP situation remains tense with latent export risk

Germany: V-price 1.50 €/kg (range 1.50 - 1.55 €/kg)

The weekly slaughter figures are 739,316(previous week 734,368) and a carcass weight of 98.9 kg. In the previous week, they were 99.0 kg.

The pre-registrations for the current week amount to 266,100 (previous week: 286,900)

The ISN auction on Tue, 17.02.2026 achieved an average price of €1.52 in a range of €1.50 - €1.53/kg.

The V-price is for the period from 18.02.2026 to 25.02.2026has been set at € 1.50/kg in a range of € 1.50 - 1.55/kg .

Market and price development in selected competitor countries:

In Denmark , the comparably calculated prices remained the same in CW 8, 2026 at €1.28/kg.

In Belgium, prices rose by 4 ct in week 8 of 2026 and stood at €1.47/kg.

In the Netherlands , prices rose by 5 ct in the 8th week of 2026 to €1. 42/kg.

In France/Brittany , the comparable prices remained the same in week 8 of 2026 at €1.59/kg.

In Italy, prices fell by 4 ct in week 8 of 2026 and are at €1.83/kg.

In Spain, the comparable price rose by 2 ct in week 8 of 2026 to €1.36/kg.

USA: with a dollar exchange rate of 1.18 $ = 1.00 € , producer prices are currently around 1.65 €/kg and have thus risen slightly compared to the previous week. Overall, the US hog market showed a rather subdued to stronger underlying tone last week, after the impetus from the product side waned somewhat over the course of the week. Slaughter figures were at the usual seasonal level, with no signs of a significant increase in supply, meaning that production was largely stable. On the demand side, there was a lack of clear new impetus from the domestic or export business, which limited trading activity overall. Compared to the previous week, however, the fundamental conditions have hardly changed and there have been no major structural shifts. Overall, the market is therefore in a short-term phase of sideways movement with a slightly defensive tendency.

Brazil: Current producer prices are the equivalent of €1.46/kg and have fallen slightly compared to the previous week. The Brazilian pig market was largely stable last week, with producer prices in the most important states trending sideways and only Santa Catarina recording slight declines. On the supply side, the latest IBGE publication on the slaughter figures for the fourth quarter of 2025 provided an important signal: although the level was higher than in the previous year, a seasonal decline was observed compared to the previous quarter, indicating a somewhat calmer supply situation at the start of the year. At the same time, producers' margins came under pressure, as maize prices in particular rose week-on-week, while soybeans and soybean meal were stable to slightly firmer. In foreign trade, the partial report for the first week of February points to continued brisk export activity, even though detailed partner country data for the current month is still pending. Market activity was flanked by intensive discussions on the continued fight against classical swine fever and weather-related risks in the south of the country, which could have an indirect impact on harvest, feed availability and logistics.

China: Prices in China have risen slightly in the last week and are at the equivalent of €1.88/kg on the spot market. Overall, the Chinese pig market is currently well supplied, with a stable production base and continued high stock levels on farms. The latest official data shows that both the pig and breeding sow herds are at a level that the authorities consider to be sufficient for a continuous supply, which indicates a structurally relaxed supply situation. At the same time, slaughtering activities and product flows are seasonal: After the intensive run-up to the spring festival, processing, stockpiling and trade dynamics are returning to normal. There are still regional differences in marketing channels and logistics, influenced by weather conditions and transportation flows between northern and southern China, among other things. Overall, a phase of market stabilization dominates, in which short-term impetus is more likely to come from seasonal demand and logistical factors than from structural bottlenecks.

Conclusion
Overall, the slaughter pig market has stabilized over the course of the week. The supply of pigs ready for slaughter can largely be placed quickly and buying interest has increased slightly. Slaughter figures are still higher than the previous year, although weights are falling. Demand on the meat market remains subdued due to seasonal factors and some production is being stored. There are signs of a certain easing in the European environment. The piglet market is developing more favorably, while the sow market is trending in a balanced direction with calm meat trading.

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ZMP Live Expert Opinion

Expert opinion
The current market situation appears somewhat more stable overall, although it is not yet possible to speak of a clear trend reversal. The improved marketing opportunities on the live market are offset by a continued quiet meat business. The decisive factor will be whether demand at home and abroad picks up in the long term. Positive signals from parts of Europe and third-country exports could have a supportive effect. At the same time, risks remain due to high stock levels and the tense ASP situation. In the short term, a stable trend seems more likely than major fluctuations.

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