In February 2023, we launched the Pig333 annual value survey which requested our customers the next query: What do you assume the pig value shall be in your nation in 2023? We acquired 734 solutions from totally different international locations. Now that we all know what the precise common value was in 2023, we are able to examine customers’ forecasts with what actually occurred.

Graph 1 compares the forecasts with the precise common of the quotations for the yr 2023 for every of the markets analyzed and determine 1 reveals the identical data along with the evolution of the common pig value during the last years

We start by congratulating the Pig333 customers who participated within the session for his or her predictive abilities, as their diploma of accuracy was exceptional. The markets with the perfect predictions had been Germany, with a distinction of simply 0.01€, Vietnam with a distinction of 1141 VND and Spain with a distinction of 0.07€ in comparison with the precise common value in 2023.

Whereas person forecasts for European markets had been very optimistic, they got here very near actuality. As clearly proven in determine 1, all European forecasts for 2023 had been effectively above 2022 costs, which had already been document excessive. Even so, actuality exceeded expectations in 4 of the 6 international locations analyzed, Spain, Germany, Italy and Poland, and in 2023 European markets noticed will increase of between 22 and 26%, leaving the historic information of 2022 far behind.

Customers in Latin America additionally made forecasts above 2022 costs. On this case, expectations weren’t met and 2023 costs had been under the anticipated, besides in Argentina, a market with a really specific dynamic.

In contrast, the Asian international locations analyzed, China and Vietnam, made downward forecasts, which is what was realized.

So… what does 2024 have in retailer for us? As soon as once more, we want to know your opinion. Click on on the hyperlink to present us your enter: What do you assume the pig value shall be in your nation in 2024?

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