Pig prices continue to stagnate

SPOT AND contract prices for pigmeat have remained almost unchanged for the fifth week (w/e Nov 5) in succession.

The GB Euro Deadweight Adjusted Pig Price (DAPP) moved fractionally up to close at 100.3p/kg and most spot baconers were traded within a narrow 99–102p/kg range.

At this time of year lighter pigs normally earn a 10-15p/kg premium, but lighter weights are currently worth just an extra 4–6p/kg.

With average EU pigmeat producer prices around 94p/kg, imports are still undercutting the UK market, and few major UK retailers seem prepared to promote the domestic product in the face of foreign competition.

One bright spot is the continuing strength of the Euro, which closed on Friday (Nov 5) at 69.7p, helping to maintain a buoyant cull sow market and adding value to imports.

Culls for the week commencing Nov 8 were traded in the 85–87p/kg range.

Spot weaners also remained under pressure due to a lack of finishing space, leaving the Meat and Livestock Commission‘s 30kg average unchanged at £30.90/head ex farm.

Contract weaners tied to the DAPP are generally trading at £3-£5/head above spot levels.