Pork prices are slowly moving towards the bottom of the cycle, with strong global supply growth and relatively weak demand driving the market.
According to the latest Rabobank Pork Quarterly report, EU prices were set to remain lower than the historic average and below break-even level in the short- to medium-term.
GB markets were conforming to that forecast, with the All Pig Price sliding by 0.35p/kg in the week to 11 April, to 135.75p/kg – nearly 28p/kg below the same time last year.
See also: More market prices and trends
The Standard Pig Price, which fell by 0.2p/kg last week, recovered by 0.1p/kg to 132.33p/kg in the week to 18 April.
After a period of stability, the return to weaker deadweight pig prices had also been reflected in weaner prices. Average prices for both 7kg and 30kg weaners fell in the week to 18 April to £33.13 and £43.34 a head, respectively.
“This has further increased the difference in price being paid for weaners between now and the same period last year, with prices down around £7 and £12 respectively,” said a report by Bpex.
In February, pork imports increased by 7% on the year, with exports rising by 10%.