Pigmeat price boost from Europe
EU - Cold weather and demand from Eastern Europe and Russia has helped lift EU pig prices by almost 3% over the past week.The EU Mainland Average Pig Price now stands at almost 92p/kg narrowing the gap with UK quotes.
Signs of an EU price revival nudged the GB Euro Deadweight Adjusted Pig Price up to 101.31p for the week ending 28 January.
The GB spot market is also reflecting a slightly firmer overall trend.
Pig supplies for week commencing 30 January saw spot bacon traded at circa 100p/kg and cutters in the 104–107p/kg range.
Although retailers are still reporting fairly quiet demand for all meats, forecasts of more cold weather to come could lift pigmeat consumption and help prices out of their trough.
It is a chilling statistic however that in 2001 GB production of home killed bacon and ham included 30% of imported pigmeat.
The 2005 proportion of imported pigmeat has now risen to almost double this and stands at 55.6%.
The cull sow market also signals better EU pigmeat values with bid prices up to 4p/kg better at 70–73p/kg.
Source: FWi
31 January 2006
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