PIG PRICES remained on hold this week (Nov 1), with only cull sows showing signs of growth.
The GB Euro Deadweight Adjusted Pig Price (DAPP) has remained relatively static at 100.37p/kg with spot baconers also traded in the narrow 99 – 103p/kg range.
In early November 2003 the DAPP was quoted at 106.31p and spot baconers were traded between 107 – 110p/kg.
This represents a year on year drop of £5-7 per head at a time when producers‘ margins are already under pressure.
The cull sow market remains the only bright spot with export abattoirs quoting around 84-86p/kg.
Sow values have been helped by a relatively firm euro which opened on Nov 1 at 69.5p. EU pigmeat values are also benefiting from stronger demand from Russia.
Domestic pork prices in Russia have risen by 70% over the past year and during in the period July – Sep imported pork prices rose by 17%.
These rises are due to higher than average grain prices, a ban on meat imports from Brazil due to foot-and-mouth fears and the failure of domestic meat production to match growing consumer demand.
The effect of cheaper pigmeat imports is continuing to be felt on the British pigmeat market in the run up to Christmas.