Pig prices drop to lowest level since March

Pig prices have dropped to their lowest level since March, with the EU-spec DAPP losing 1.3p/kg in the fortnight to 12 July, to 162.6p/kg.

“Lacklustre consumer demand continues to be a feature across the fresh meat sector, with the good weather of late not helping,” said a report by BPEX. “At the same time, estimated slaughterings continue to run ahead of last year, although average carcass weights are now close to year earlier levels.”

See also: At a glance: World agriculture outlook 2014-23

Prices didn’t normally peak until later in July, when summer holidays started to impact on demand, but the decline had set in earlier this year, the report added. “This means that the latest price is 6.2p lower than in the equivalent week last year, the biggest year-on-year drop since March 2011.”

However, the weaner market remained broadly stable, with falling feed costs helping to support prices, said the report.

Over the past fortnight, average prices for 7kg weaners had dropped by £1.12 a head, to £40.09 – much in line with previous weeks and 45p higher than the same time last year. The 30kg price fell by £1.13, to £55.36 – £1.48 a head above last year.