UK prices benefit from EU Rises
UK - UK producers' hopes of better domestic pigmeat prices to help offset sharply rising feed costs hav been bolstered by reports of sharp rises in EU pigmeat values.
1 April 2008
2 minute read
According to Farmers Weekly, the average EU mainland producer prices rose by 20 per cent from 92.5p/kg in mid February to 111.3p by mid March.
Over the same period, the value of the Euro rose from 74.0p to 78.5p, which increased the cost of imported pigmeat and lifted the value of UK pigmeat exports.
Although the latest GB Euro Deadweight Adjusted Pig Price continues to improve and is now quoted at 112.89p, UK spot bacon prices have surged ahead with quotes in the 115 - 117p/kg region available.
Pigmeat traders are expecting prices to continue to improve post-Easter at a time when food inflation is starting to hit most sectors of the retail market.
