A welcome surge in European prices has delivered a boost to UK pork market prospects, but poor demand continues to apply a brake domestically.
European prices continued their recent rally with significant rises recorded in most markets, including a further 7 euro cents in Germany, following last week’s 8 euro cents rise. Prices in sterling were further enhanced by a stronger Euro that ended the week up 0.23p at 84.94p.
Supplies remained on the tight side, due in part to factory issues that dominated last week, as wo plants suffered flooding due to torrential rain, with a suspected notifiable disease in another on Friday morning, according to according to Thames Valley Cambac. “Fortunately, both producers and hauliers were flexible, and disruption was contained,” TVC said in its latest market update.
However, demand was flat, with some majors planning to close over the Bank Holiday. Prices continued their slow and inexorable rise towards the £2/kg mark, and the SPP added just shy of a penny last week to reach 197.4p/kg.
“Fresh meat demand was in holiday mode and will be little changed this side of September. Cull sow trade was buoyed by the continued rise in German prices – up another 7 euro cents, and supplies were lower than of late,” TVC said.
“The weaner market remains flat and devoid of any meaningful trade. Fatteners remain withdrawn from the market, and while harvest pressures helped ease some of the wheat and barley quotes, there is little change in outlook.”
UK and European Prices (p/kg) w/c 21/08/22 Movement on last week
SPP 197.40 + 0.93
Tribune Spot Bacon 202.56 + 1.15
European Av. 170.13 + 4.68
Belgium 157.82 + 7.11
Denmark 138.19 + 3.83
France 203.68 + 3.24
Germany 169.88 + 6.38
Ireland 176.67 + 3.85
Holland 154.84 + 5.74
Spain 188.65 + 1.60
(Ref Weekly Tribune)