The demand boost needed to shift more British pork products is yet to materialise, as under-pressure consumers ‘trade down’ in their purchasing habits, according to Thames Valley Cambac.
“As we move towards Q4 with the holiday period firmly behind us and a seasonal chill in the air as Christmas starts to appear on the horizon, it wouldn’t be unreasonable to expect a pick up with demand,” TVC said in its latest weekly market update.
“However, current reports and feedback from the processors we serve and other industry reports continue to show that demand remains flat, with further evidence showing consumers have been trading down on the products being purchased such as mince etc.
“Also, reports of small butchers closing due to rising costs and falling sales are creating significant challenges for some smaller processors, limiting their ability to find replacement markets.
“We could do with some of the recently reported increased demand in China to have some bearing on global stocks!”
German prices stood on last week as did the UK sow market, little change in the SPP, rising by 0.4p to 199.93, close to that £2kg mark, but still with a way to go to meet average costs of production.
Weaner and store markets also continue to see little change week on week, very few moved outside contractual agreements. Prices for 7kg weaners remain at £46-£48, last published on August 22, while the 30kg store price was last published on July 25, both due to insufficient data.
UK and European Prices (p/kg) w/c 18/09/22 Movement on last week
SPP 199.93 + 0.40
Tribune Spot Bacon 205.33 + 0.72
European Av. 179.34 + 1.36
Belgium 169.12 +1.05
Denmark 145.70 + 0.90
France 214.23 + 2.20
Germany 183.54 + 1.13
Ireland 183.54 + 1.13
Holland 164.22 + 2.14
Spain 195.25 + 1.20
(Ref Weekly Tribune)