Spain reaches new record hog price

Spain is the largest producer of pigs in Europe with about 2.6 million sows. Last week Spain set a new record hog market price of 1.795 Euros/kg liveweight. About 87¢ lb. U.S. Like North America no one in Spain expects high prices in February, it is counter-seasonal. There is only one main reason Spain’s price has reached a record level. The decrease of hogs for slaughter in Spain and throughout Europe. We started writing about our expectations of Europe’s potential herd liquidation after our visit to Europe in the fall of 2021. Since then the European sow herd continued to decline while new rules in regard to animal welfare and antibiotic use have led to greater pig mortalities. Spain probably is the only country in Europe that hasn’t decreased their sow herd significantly. The challenge for Spain is the increase in sow mortality which was below 10% and is now over 14%. At the same time, wean to finish mortality has gone from under 10% to now 14%. Some industry data indicates ...