Demand steady “with little glimmer of an upturn”

This week’s Pig Marketing Summary, from Thames Valley Cambac, reported that demand from the major processors was steady with little glimmer of an upturn. All weekly contract price contributions stood on, and one monthly agreed quote increased 4p.

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The mediocre demand shows no signs of improving, and the feeling is that the market will rise on the back of tighter supply. This week, supply continued to tighten as poor production from last year starts to filter through.

The SPP virtually stood on, and with the generally positive market fundamentals this week feeding in, this should be the lowest point it reaches. The fresh meat market was similar, with little improvement seen. The only negative of the day was the cull sow market that fell a penny due to unfavourable currency.

In Europe, both Belgium and Spain improved, adding 2.7 eurocents each and all other countries stood on. Quotes in sterling were tempered however, by a weaker Euro that ended the week down 1.29p at 85.97p, a level not seen since May 2017.

The Weaner Marketing Summary, for week commencing February 24, reported that supply improved again this week, with the continued support of batches from farrow to finish operations. Demand matched, and prices were a strong stand on. The prices announced by the AHDB saw the weighted average for a 30kgs store pig quoted at £48.93, and the weighted average for a 7kg weaner rise by 94p to £36.77.

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