The SPP continues to rise in value up by a useful 2.04p to stand at another new record level of 209.75p.
EU prices have remained extremely firm with the German producer price quoted at 2.28 EUR, Spain at 2.22 EUR and French values have soared to 2.45 EUR – mon dieu!
UK weekly contribution prices are also improving with most prices up by 2p-3p/kg. Spot bacon pigs remain extremely scarce and for those who had any spare pigs to sell prices in the 215p- 220p/kg region and more in places were available from abattoir buyers who still have empty hooks to fill in their chill rooms.
Cull sow values continue to reflect the EU wide shortage of pigs with export culls generally between 118p and 122p/kg according to spec.
The value of the Euro has remained little changed trading on Friday at 88.7p.
Weaners are even more scarce than finished pigs partly due to infertility problems last summer. With plenty of empty rearing/finishing accommodation, buyers remain keen to top up their supplies where possible.
Contract weaner values have included RSPCA Assured 7kg piglets selling between £53.50-£57/head and 30kg spot weaners are continuing to reflect the current pig supply shortage.
Feed Market Trends
Feed ingredient prices are continuing to move in pig producers’ favour with the UK spot feed wheat weekly average slipping to £210/t ex farm.
Hopefully this trend will continue and discussions over the extension of the grain corridor from Ukraine will be agreed, although at this stage final details have yet to be confirmed.
Futures prices remain bearish with feed wheat traded at £217/t for April and £221/t for September. Feed barley values are also continuing to decline with deals agreed for April delivery at £206/t and £205/t September.
Hipro soya values have also eased slightly to £551/t for April and £515/t for June – October. Rapemeal remains expensive at £344/t for April and £301/t for August – October.
On the basis that every silver lining has a cloud, concerns are being raised that the volume of imported pig meat coming to the UK is still undercutting domestic prices by a country mile with lower welfare credentials and a much higher carbon footprint. This comes at a time when retail customers have become extremely price conscious due to the rising cost of living.
There is also a risk that imports could be infected with African Swine Fever, which would be one challenge too many for the pig industry as a whole.