Finished pig values dwindle despite tighter UK supply

UK pig prices have started to ease back in recent weeks after reaching record highs in August.

The EU-spec standard pig price (SPP) averaged 224.76p/kg deadweight for the week ending 2 September, down 0.58p/kg on the previous week, but still up  more than 25p/kg on the same week last year.

See also: Analysis: What’s the future for the UK pork sector?

Demand on the Continent has been falling for several months, with the EU reference pig price back about 17p/kg deadweight during the past six weeks and dropping below the £2/kg deadweight mark.

However, until recently, UK prices had been holding strong and growing a premium over EU prices.

Pig marketing group Thames Valley Cambac said a few processors were talking about wanting to grow their kill numbers, but some processors were less keen for pigs this week.

“Most schools are now back, meaning most families will be back to normal routines, and with Germany standing on for the third week in a row, most would be positive about the short-term future.”

Fewer pigs

The number of pigs in England fell 12% in 2023 to total 3.6 million – the lowest level in more than a decade, according to Defra figures.

The female pig breeding herd has started to stabilise at about 257,000 head, after a significant year-on-year fall during 2022.

Meanwhile, fattening pigs, which account for 91% of all pigs, decreased in numbers by 13% on the year.

Freya Shuttleworth, AHDB senior analyst, said: “This is unlikely to come as much of a surprise to those in the industry who are only just beginning to recover after 10 consecutive quarters of lossmaking.”