Pig values remain unsettled

UK PIG PRICES remain unsettled for the week commencing June 21, despite the rising value of imports.

The gap between spot and contract prices is widening and although the GB Euro Deadweight Average Pig Price (DAPP) only lost 0.18p/kg this week, to 108.78p/kg, it was hard to get within 3-5p of this on the spot market.

With the exception of one or two west country abattoirs demand for spot cutters and baconers remains selective with cheap imports still penetrating the UK market. 

There will soon be little difference in value between UK and imported pigmeat prices, which should help to stabilise the domestic market.

A year-on-year comparison does not make good reading. 

In mid-June 2003 the GB Euro DAPP was 111.9p/kg, spot cutters were worth 118p and baconers 114p, representing a drop of 10p/kg or about £7 per pig.

Cull sow prices provide the only buoyancy in the market with quotes at around 70p/kg compared with 56p one year ago.

That is despite the falling value of the Euro, which is currently worth 65.6p compared with 69.5p in June 2003.

The Meat & Livestock Commission weaner average is quoted at £34.23 ex-farm, which is £5.22p below last year‘s figure.