GB pig prices for week ending October 1, 2022
AHDB Pork’s weekly pig prices, slaughter data for Great Britain
The EU-spec GB SPP increased by 0.36p to reach 200.37p/kg for the week ended October 1, following the previous week’s 0.21 backward step, the first since February.
The previous week’s reverse was from a relatively small sample due to the bank holiday held for the Queen’s funeral. Pig producers will be hoping the return to an upward trend is a sign of things to come, with average costs – estimated by AHDB at 221p/kg for August – still above average prices, and many businesses continuing to lose money on a weekly basis.
Recent market reports have been of ‘flat demand’ for British pork products, as trade data shows a substantial increase in pork imports during the first seven months of this year.
There was a big weekly drop in estimated clean pig slaughterings, reflecting the extra bank holiday last week, as the Queen’s funeral was held.
The APP was down by nearly a penny for the week ended September 24. At 202.68p/kg, the gap between it and the SPP was just 2.67p.
The gap between the EU and domestic prices is key in terms of the UK pig market outlook. In the week ended September 25, the EU reference price was 185.46, following steady increases since mid-August on the back of tighter EU supplies. This narrowed the gap to the UK price to just over 14p, compared with more than 30, not many weeks ago.
AHDB / Pig World
Read full article Share on twitter