Key Conclusions on Hungary Livestock Products
Import dependence in the Hungarian livestock market is around 25%, with a notable feed raw material gap. In June 2026, live cattle prices rose 6.2% year-on-year, pork prices remained stable, and dairy import volumes increased by 4.1% year-on-year. Main risks stem from EU Common Agricultural Policy adjustments and feed cost volatility.
Average live cattle price (Budapest auction market)
€3.78/kg ▲6.2%
Wholesale average pork price
€2.14/kg flat
Source: Hungarian Central Statistical Office (KSH), Agrárközgazdasági Intézet (AKI), June 2026 weekly livestock price report
Supply and Demand Fundamentals
Hungary's livestock sector accounts for 38% of total agricultural output. In Q1 2026, total meat production reached 214,000 tonnes, up 1.7% year-on-year. Domestic consumption is stable, with exports mainly going to the EU. The feed grain deficit is about 1.8 million tonnes, requiring imports to fill the gap.
| Indicator | 2025 Full Year | 2026 Q1 |
|---|
| Total meat production | 876,000 tonnes | 214,000 tonnes |
| Milk production | 1.82 billion litres | 460 million litres |
| Feed grain deficit | 1.75 million tonnes | — |
Source: Hungarian Central Statistical Office (KSH) May 2026 agriculture flash report, AKI feed supply-demand monthly report April 2026
Current China Market
China's livestock products market is generally well-supplied. In June 2026, the average live hog price was 14.6 CNY/kg, and white-feathered broiler price was 8.2 CNY/kg. Poultry meat and processed product exports to the EU increased by 5.3% year-on-year, while live animal exports remain minimal.
National average lean hog price
14.6 CNY/kg ▼2.1%
White-feathered broiler farm gate price
8.2 CNY/kg flat
Source: Zhuochuang Information, Boyar & Hexun, June 2026 weekly livestock price report; General Administration of Customs of China, May 2026 export data
Current Hungary Market
Retail prices of livestock products in Hungary have risen moderately. In May 2026, the food CPI for meat products increased 3.8% year-on-year. Import dependence: soybean meal 95%, fishmeal 100%, some breeding stock 30%. Major source countries are Germany, Poland, the Netherlands, and Brazil.
Meat product CPI YoY
+3.8%
Import dependence (soybean meal)
95% High dependence
Source: Hungarian Central Statistical Office (KSH) June 2026 inflation flash report; AKI import dependence assessment Q2 2026
Sub-product Structure
Hungary's livestock imports are dominated by feed raw materials, with notable growth in breeding stock and frozen semen imports. In January-May 2026, soybean meal imports reached 620,000 tonnes, fishmeal 18,000 tonnes, and live cattle imports 12,000 head. Pork imports fell 3%, while poultry imports remained flat.
| Category | Jan-May 2026 Imports | YoY |
|---|
| Soybean meal | 620,000 tonnes | +2.4% |
| Fishmeal | 18,000 tonnes | +8.1% |
| Live cattle | 12,000 head | +11.3% |
Source: Hungarian Central Statistical Office (KSH) trade database, updated June 2026; AKI import monitoring May 2026
Core Finished Products Supply & Demand
Pork is the main meat consumed in Hungary. Q1 2026 output was 106,000 tonnes, with imports down 4.2% year-on-year. Beef output was 23,000 tonnes, with a tight supply-demand balance and rising supplementary imports. Dairy exports are strong, with butter exports up 9% year-on-year.
| Product | Q1 Output | Import Change |
|---|
| Pork | 106,000 tonnes | -4.2% |
| Beef | 23,000 tonnes | +6.7% |
| Butter | 9,000 tonnes | Exports +9% |
Source: KSH May 2026 livestock production report; AKI dairy trade brief June 2026
Intermediate Goods and Raw Material Value
Feed cost is a critical profit variable for Hungarian livestock. In June 2026, Argentine soybean meal CNF Europe landed price was $412/tonne, while average corn price in China's producing areas (Northeast) was 1,820 CNY/tonne. Farm-level feed costs in Hungary rose 5.7% year-on-year.
Argentine soybean meal CNF Europe
$412/tonne
Average corn price in Chinese producing areas
1,820 CNY/tonne
Source: Mysteel Agricultural Products, June 2026 feed raw material monthly report; 100ppi.com corn price monitoring, June 30, 2026
Trade and Macro Indicators
Hungary's GDP grew 1.8% year-on-year in Q1 2026, with agriculture accounting for 3.6%. The forint-euro exchange rate stood at 382:1, relatively stable. Bilateral trade between China and Hungary increased 14% year-on-year, with livestock-related products representing a small but high-potential share.
| Indicator | Value | Period |
|---|
| GDP growth | 1.8% | 2026 Q1 |
| EUR/HUF | 382 | 2026.06 |
| China-Hungary trade volume | +14% | Jan-May 2026 |
Source: Hungarian National Bank (MNB), KSH, General Administration of Customs of China, June 2026
Risks and Opportunity Windows
On the risk side, EU CAP reform could cut livestock subsidies; feed raw material price volatility persists; forint exchange rate fluctuations affect import costs. Opportunities lie in growing Chinese demand for high-quality dairy products and breeding stock, as well as deepening China-Hungary Belt and Road cooperation.
⚠ EU CAP subsidy reduction risk
⚠ Feed cost volatility
✓ Opportunity: China-Hungary breeding stock trade growth & dairy exports
Source: AKI policy brief June 2026; Ministry of Commerce of China, CEE economic and trade cooperation brief Q2 2026
Disclaimer: The data in this report is for reference only and does not constitute any investment advice. Markets involve risk; decisions should be made with caution.