This week’s [beginning 9 August]Pig Marketing Summary, from Thames Valley Cambac, reported that factory reliability was fairly poor, as major breakdowns caused pigs to be rolled into this trading week.
The report shows that the market was already amply supplied, and the rolled number just added to, and that demand was in summer mode with very little spark from some of the majors.
Weekly contract contributions continued to fall, which Thames Valley Cambac said was with little justification in our view, as relief was already built into prices by the 0.5p fall in the SPP, for example.
Supply continued to outshine forecasts, and average weights remained stubbornly high. However, the fresh meat market continued to buck the morose trend, with most outlets having decent demand. The cull sow market was near normal in volume terms and similar pricewise. European market prices were static, and quotes in sterling were enhanced slightly by a stronger Euro that ended the week up 0.32p at 90.37p
In addition, supplies for weaner pis continued to improve, but demand remained pretty quiet with little opportunity for anything outside regular trades. The prices announced by the AHDB saw the weighted average for a 30kg store pig fall by 65p to £59.43 and no quote for a 7kg weaner.