Major German slaughter companies announced prices of 1.68 euros given mid-week last week. This led to price drops of 5 cents in Germany itself, the Netherlands, Belgium and Austria. In Denmark, which had previously benefitted from strong export trade, prices fell by 3 cents, although the Danish quotation remains ahead of German prices by almost 12 cents.

Prices in France and Spain and France fell by no more than 1 cent.

ISN said, contrary to its predictions made last week, that, "Demand on the part of the slaughter companies is [still] very modest. At the same time, the dealers and marketers themselves are not given clear information by the slaughter companies about when slaughtering is scheduled over the Christmas holidays.

"Forward-thinking planning is being made very difficult this way, but maybe this is just what is wanted to happen by some people."

On Tuesday, ISN analysts added, "Lower slaughter weights as well as large numbers of slaughters carried out last week indicate that many farmers brought forward the selling of some of their batches. Whether or not this is sufficient for the current price level to be taken into 2013 is still unanswered from today’s point of view."