In the first 11 weeks of the year, European pig prices saw significant fluctuations, with a notable decline in the initial five weeks followed by a recovery in the subsequent six, as analyzed by AHDB's Freya Shuttleworth. This volatility was driven by a mix of increased demand and reduced supplies, with EU pig meat production dropping to its lowest in over a decade in 2023, resulting in a 7% year-on-year decrease. This downward trend in production is anticipated to persist, influenced by a reducing herd size and new environmental regulations. Moreover, both EU pig meat exports and imports have diminished, reaching their lowest levels since 2014 and in over a decade, respectively, excluding 2021. The UK's share in EU pig meat imports has declined, whereas Switzerland and Chile have experienced growth in their market shares.