Plummeting pig price adds to industry woes
The falling pig price is adding to an already near impossible situation on pig farms, as pigs continue to back up due to processor staff shortages and feed prices remain eye-wateringly high.
Last week saw the SPP record its biggest fall since 2016, as it fell by 2.31p to reach 156.39p/kg, the lowest level since June. The measure, after five weeks of decline, is now nearly 5p down on a year ago, although still nearly 4p up on the five-year average.
According to AHDB, the further price falls are a result of constraints on slaughter and processing capacity due to staff shortages.
Recent falls in pig prices in most EU member states has ‘likely also played a role’, making pig meat imports into the UK more price competitive. At the end of August, the EU reference price stood at just 121.7p/kg, 21p down on where it stood in mid-June, with big falls in particular in Germany (117.5p/kg), Denmark (118.3p/kg) and the Netherlands (104.8p). The UK Reference price stood at 159.6p/kg.
by Alistair Driver / Pig World
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