GB pig prices increase by 0.9p/kg

GB pig prices have edged higher still, with the EU-spec All Pig Price (APP) rising 0.9p/kg in the week to 3 December to average 154p/kg.

Though price inflation had slowed in recent weeks, tight supplies alongside good export demand had supported the market.

Global pork export prices continued to edge up in the third quarter of 2016, according to a report by AHDB Pork.

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The average export price reached $2.63/kg (£2.07/kg), the highest level since June 2015, however values remained well below the levels recorded between 2011 and 2014.

The rise in prices coincided with pork exports falling back on the inflated levels seen earlier in the year, with around 440,000t traded in each month, down from over 500,000t in May.

In the first nine months of 2016 global exports reached 4.1m tonnes, nearly 90% of the total exports for 2015.

Prices were anticipated to come under pressure in the final three months of 2016, given the sharp fall in US pig markets.

Although this was yet to have a major effect in the EU, increased competition on the export markets could put pressure on EU prices, added the report.