Pig prices slip as lower Euro boosts competition

Contract and spot finished pig prices are showing an easier trend, writes pig commentator Peter Crichton.

The GB Euro Deadweight Adjusted Pig Price lost 0.17p to stand at 152.71p/kg for the week ended 9 July and some but not all of the weekly contract prices also headed south. Tulip held at 152p/kg and Woodheads at 154p/kg, Cranswick slipped 1p to 150p/kg and Vion came down by 0.5p to 150p/kg as well.

Spot bacon was also traded at around 2p below last week’s prices with most bids in the 150p/kg region.

A near 2% reduction in the value of the Euro over the past week has also cheapened the cost of imported pigmeat, which continues to undercut the UK product as well as affecting cull sow prices. Most cull sow abattoirs were offering quotes in the region of 100p/kg for supplies next week.

The latest AHDB 30kg ex-farm weaner average price of £45.91/head continues to reflect forecasts of slightly lower pig prices in the autumn, which in most cases is still below cost of production levels.

Grain futures prices have tended to firm in the last few days with November wheat quoted at £165/t, but any reduction in feed costs could help to re-stimulate a flagging weaner market.