EU boost to pig prices

SHARPLY RISING EU pigmeat prices are beginning to buoy up UK quotes, though the market is slow to react.

The six main EU markets moved up by almost 7% last week, touching 98p/kg with producer quotes in France, Germany and Belgium all above the equivalent of 100p/kg.

Although the slow moving GB Euro DAPP only rose by 0.24p/kg to stand at 100.54p, spot prices rose sharply.

Most spot bacon was traded in the 104-107p/kg range, with odd quotes higher than this from buyers still short of pigs by the end of trading on Friday (Feb 11).

Cutter weight pigs are also earning a 2-4p/kg premium, and lightweight porkers were recorded at up to 115p/kg.

Sow prices, which are greatly influenced by EU values, surged.

Export abattoirs bid in the 83-86p/kg range, with some buyers prepared to go above this to fulfil orders in the face of shrinking supplies.

The euro has remained relatively static and opened on Mon 14 Feb at 68.9p, but any weakening in sterling will help cull sow quotes and lift the cost of imports.

The weaner market continues its slow recovery with most quotes now above cost of production levels and the MLC ex farm average at £32.44/head.