UK pig prices among highest in EU

UK deadweight pig prices were the fifth highest of any country in the EU 28, at 151.46p/kg in the week to 2 April.

UK values were behind Malta, which had the highest price at 187.83p/kg, followed by Italy at 153.37p/kg, Cyprus at 153.18p/kg and Portugal at 152.51p/kg.

The UK’s position as one of the top-priced pork-producing countries in the EU is a historical trend, said John Bullock, media and PR manager at AHDB.

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“However, the gap can sometimes disappear completely, or be as much as 30-40p/kg,” he added.

Generally, the UK premium is due to the proportion of pigs reared outdoors, which increases the price.

Over the past year, EU deadweight prices have largely increased, with the EU 28 average up by 25.9% to 139.37p/kg and the UK was up by 24.2%.

The dramatic increase in deadweight values follows a dip after the Russian embargo in 2014 which removed the market for a considerable amount of pork, said Mr Bullock.

“This depressed prices, but over the past year the EU pig herd has shrunk and supplies are now tight.”

On top of this, strong Chinese demand has driven up prices.