Germany: Pork stocks are declining
According to Agrarmarkt Informations-Gesellschaft (AMI) and according to data from the Association of German Cold Stores and Cold Logistics Companies (VDKL), the stock of pork in German cold stores was 154,000 tons, well below the level of the same month last year. The storage volume two years ago (August 2020) was thus only slightly exceeded. With higher pork prices, outsourcing became more interesting and refilling less lucrative. At the same time, increased energy costs make interim storage more expensive.
The amount stored in August 2022 is by far the lowest filling this year. The monthly average tonnage in the cold stores from January to August 2022 is 198,000 tones with an increase of 1% over the values of 2021, however, the storage quantity exceeds the data of 2020 by 42%.
The change in pork stocks in the cold stores is an indicator for trading on the meat markets and, especially in August, falling pork stocks and simultaneously rising pork prices showed a positive market development. In addition to the price changes, the overall lower supply is also likely to be a reason for the declining inventories. At the moment, trading in the meat markets is becoming more difficult again. It remains to be seen whether this will also be reflected in changes in inventories.
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