Pig numbers remain tight as we approach the end of the first quarter of 2023, with the SPP lifting another 2.04p to nearly 210p/kg last week – a welcome step up from disappointingly small hikes over the previous two weeks, according to Thames Valley Cambac.
“With supply still very thin, with little signs of improvements, processors are becoming increasingly concerned, with current shortages, especially if demand starts to pick up as it often does from this period, going from year on year trends,” TVC said in its latest market update.
“One major processor added a further 3p/kg in an attempt to secure more pigs – however, this merely brought them more in line. Nevertheless, other inputs increased marginally with some still not even parity to SPP. In a rising market this seems inappropriate given they would be well below the SPP if the trend was the other way!”
As for Europe, the big movers where France, Ireland and Spain (up 5.6p, 2.95p, 3.9p respectively) – some prices were down slightly in sterling terms because the euro has weakened slightly, although in Euro terms these where all stand on.
The cull sow price also stood on. TVC pointed out that we are approximately £1/kg more than we where this time last year. “However, the major talking point is the differing location where the majority of sows are now being slaughtered,” TVC said.
UK and European Prices (p/kg) 12/03/2023 Movement on week
GB SPP 209.75 +2.04
Tribune Spot Bacon 215.13 +0.9
European Av 198.93 +1.51
Belgium 189.14 -0.58
Denmark 142.27 -0.53
France 250.56 +5.60
Germany 201.23 -0.62
Ireland 194.17 +2.95
Netherlands 189.23 -0.58
Spain 225.76 +3.90