Euro pig prices begin to improve

EUROPEAN pig prices appear to be starting to improve, and the stronger Euro against the Pound should also aid domestic values.

The Euro opened on Mon, Aug 23 at 67.55p, making imports less competitive and adding value to cull sow export prices.

Feed costs are also significantly below 12 months ago, with spot wheat trading at about £60-£64/t ex-farm depending on region.

But GB contract and spot pig prices continue to ease.

The GB Euro Deadweight Adjusted Pig Price (DAPP), against which many contract prices are calculated, fell by a further 1.18p last week (w/e Aug 19), to 103.79p.

Spot bacon prices are also weak, with most deals in the 92-96p/kg range.

Indifferent summer weather has also hit barbecue demand and lighter cutter weight pigs, which provide suitable barbecue cuts, have eased to 98-102p/kg.

However, the stronger Euro has helped cull sow quotes to rise, with export abattoirs readily quoting 76-78p/kg.

Weaner prices continue to be affected by a general lack of finishing space and uncertainty over autumn finished pig returns.

As a result the Meat and Livestock Commission‘s 30kg weaner price lost further ground to average £30.88/head ex-farm.