Pig prices pass landmark £2/kg
The EU-spec SPP has passed the £2 per kg mark, but the rate of increase is slowing and prices are still well below costs of production.
The SPP averaged 200.22p/kg in the week ending 16 September, up 0.3p from the previous week – the smallest increase since early March.
However, pig prices still fall short of the estimated cost of production, calculated at 223p per kg for August.
The sector is seeing surging energy and grain costs, as well as challenging post-Brexit staffing issues.
While the National Pig Association (NPA) welcomed the latest increase, it warned that the rate of progress was slowing.
“The SPP has finally hit £2/kg, rising by 0.3p to 200.22p/kg last week,” the body said.
“While the landmark is welcome, the pace of upward movement is slowing markedly.
“On average, prices remain below cost of production, estimated by AHDB at 221p/kg for August.”
by FarmingUK
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