Pig Prices Highest Since March 2007

AUSTRALIA - Over-the-hooks pork and bacon prices are currently the highest since March 2007 and sow prices have been better than ever since November 2007.
calendar icon 18 August 2008
clock icon 2 minute read

Prices have lifted on the back of reduced supplies, after the flat price period earlier, from February through to May.

More recently, the reduced value of the $A has improved demand from export customers as well, according to Farmonline.

The lower $A has also increased the buying price of imports entering the domestic market, improving the competitiveness of Australian growers.

Prices typically peak in the lead up to Christmas, with legs and middles currently easy to move at wholesale, while shoulders are harder to shift.

Carton product is also harder to move than is broken product. This has occurred as retail demand has been quieter over the past few weeks.

Currently, the national over-the-hooks bacon price stands at 269¢/kg cwt and pork at 298¢/kg cwt.

This is 25¢ and 35¢/kg cwt higher, respectively, than in mid-July last year, when prices reached their last major low point.

The national backfatter sow price has shown a more stable trend since last year, although a rise of 10¢/kg since the beginning of July has kicked the indicator up to 118¢/kg cwt.

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