Pig quotes for the week commencing 10 October have remained at lacklustre levels as the GB Euro DAPP continued its slide to 103.39p.
It may be difficult for the DAPP to make any real upward progress between now and Christmas.
Deadweight bacon buyers are bidding in the 102–104p/kg range with demand for lighter pigs at 4–6p/kg above this.
With beef and lamb prices also under pressure, demand for all species of retail meat is suffering from the effects of cheap imports.
The cull sow market is also reflecting lower EU pigmeat values following further sharp falls in Germany, a key export destination.
Most cull sow buyers are offering in the 65–68p/kg range and some consigners have elected to “hold” rather than sell for the time being.
The weaner market also reflects an uncertain outlook for finishers at the end of the year with the Meat and Livestock Commission 30kg ex farm average easing to £34.56/head.
It will need a rally in finished pig prices soon to stimulate the weaner market beyond present levels.
A slightly brighter note is the continuing recovery of the euro, which opened on Monday (10 Oct) at 68.8p, up 1% on the week.