07 August 1998
Record one-day dw price drop for pigs
By Peter Crichton
DEADWEIGHT pig prices have suffered their biggest one-day drop this year. The Average Euro-Spec Average sliding by 4.28p to stand at just 77.99p as at 1 August.
Spot prices, however, are showing some signs of a recovery. Many auction markets saw prices climb by 2-4p over the past week.
End of week deadweight quotes were also a touch firmer due to better export demand helped by the announcement of a 20p/kg export refund for consignments to non-EU countries.
As a result, bacon pigs are quoted at 60-64p/kg deadweight, compared with 56-60p/kg last week.
But traders warn that the export situation could develop into a case of “head they win, tails we lose”. Export demand could slip back again if prices rise much beyond current levels, they say.