Pig World
  • News
      • Animal Health
      • Breeding
      • Business
      • Environment
      • EU
      • Food Safety
      • Housing
      • Marketing
      • NPA
      • National Pig Awards
      • New Products
      • Nutrition
      • People
      • Pig Fair
      • Politics
      • Training & Education
      • Welfare
  • Features
    • Animal Health
    • Breeding
    • Environment
    • Farm Visits
    • Herd Recording
    • Housing
    • Marketing
    • Nutrition
    • Products
    • Training
  • Comment
    • AHDB Pork
    • Chris Fogden
    • Dennis Bridgeford
    • Peter Crichton
    • Red Robin
    • Veterinary View
    • Zoe Davies, NPA
  • Numbers
  • Pig Prices
  • Magazines
    • October 2025
    • September 2025
    • August 2025
    • 2025 Maximising Pig Health supplement
    • July 2025
    • June 2025
    • 2025 Innovation supplement
    • May 2025
    • April 2025
    • March 2025
    • 2025 Buildings supplement
    • February 2025
    • 2025 Nutrition Supplement
    • January 2025
    • December 2024
    • November 2024
    • 2025 National Pig Awards supplement
    • October 2024
    • September 2024
    • August 2024
    • 2024 Pig Health supplement
    • July 2024
    • June 2024
    • 2024 Innovation supplement
    • 2024 Pig & Poultry Fair Guide
    • May 2024
    • April 2024
    • 2024 Buildings Supplement
    • March 2024
    • 2024 Pig Nutrition supplement
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • 2023 National Pig Awards supplement
    • October 2023
    • September 2023
    • Health Supplement
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Classified
  • Events
    • Pigs Tomorrow
    • National Pig Awards
Subscribe
Pig WorldPig World
  • News
      • Animal Health
      • Breeding
      • Business
      • Environment
      • EU
      • Food Safety
      • Housing
      • Marketing
      • NPA
      • National Pig Awards
      • New Products
      • Nutrition
      • People
      • Pig Fair
      • Politics
      • Training & Education
      • Welfare
  • Features
    • Animal Health
    • Breeding
    • Environment
    • Farm Visits
    • Herd Recording
    • Housing
    • Marketing
    • Nutrition
    • Products
    • Training
  • Comment
    • AHDB Pork
    • Chris Fogden
    • Dennis Bridgeford
    • Peter Crichton
    • Red Robin
    • Veterinary View
    • Zoe Davies, NPA
  • Numbers
  • Pig Prices
  • Magazines
    1. October 2025
    2. September 2025
    3. August 2025
    4. 2025 Maximising Pig Health supplement
    5. July 2025
    6. June 2025
    7. 2025 Innovation supplement
    8. May 2025
    9. April 2025
    10. March 2025
    11. 2025 Buildings supplement
    12. February 2025
    13. 2025 Nutrition Supplement
    14. January 2025
    15. December 2024
    16. November 2024
    17. 2025 National Pig Awards supplement
    18. October 2024
    19. September 2024
    20. August 2024
    21. 2024 Pig Health supplement
    22. July 2024
    23. June 2024
    24. 2024 Innovation supplement
    25. 2024 Pig & Poultry Fair Guide
    26. May 2024
    27. April 2024
    28. 2024 Buildings Supplement
    29. March 2024
    30. 2024 Pig Nutrition supplement
    31. February 2024
    32. January 2024
    33. December 2023
    34. November 2023
    35. 2023 National Pig Awards supplement
    36. October 2023
    37. September 2023
    38. Health Supplement
    Featured

    October 2025 issue of Pig World now available

    October 2, 2025
    Recent

    October 2025 issue of Pig World now available

    October 2, 2025

    September 2025 issue of Pig World now available

    September 1, 2025

    August 2025 issue of Pig World now available

    August 1, 2025
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Classified
  • Events
    • Pigs Tomorrow
    • National Pig Awards
LinkedIn X (Twitter)
Pig World
Business

Latest net margin figures show UK pig sector almost back to break-even in Q1

Alistair DriverBy Alistair DriverMay 24, 20233 Mins Read
LinkedIn Twitter Facebook Email

UK pig producers were, on average, almost back in the black over the first three months of this year, the latest net margin figures from AHDB show. 

The full economic cost of production for Q1 2023 was estimated at 213p/kg deadweight, slightly higher than the average price over the period, resulting in averages losses of £1/head.

While this represents the 10 successive quarter of negative margins, during which time hundreds of millions of pounds have been lost, with a huge knock-on effect on the UK breeding herd, it is an improvement on successive 2022 margins of -£58, -£52, -£23 and -£17.

The Q1 figures estimated that the cost of production fell by 11p/kg from the Q4 2022 figure of 224p/kg. The biggest factor was a 15p drop in feed costs to 139p/kg, which made up an estimated 65% of total costs in Q1, compared with up to 73% in 2022. In reality, this has impacted different producers in different ways, depending on the extent to which they bought feed ingredients forward at higher prices.

We have also seen a drop in the cost of fuels from highs seen in 2022, which has helped reduce transport costs. However, interest rates, including mortgages, have risen throughout the first quarter of 2023, placing increased pressure on building and related finance costs, while costs associated with electricity and gas also ‘remain stubbornly high’, AHDB analyst Isabel Shohet said.

These estimates use the latest performance figures for breeding and finishing herds for the 12 months ending 31 March 2023.

Pig prices stabilised to 211p/kg (APP), resulting in average losses of 2p/kg and £1/head, on that basis, while the SPP averaged 208p/kg. These figures are an average across the quarter.

Q1 2023 COP APP

Pig prices have gained momentum throughout the first quarter of the year, reaching all-time highs, with the APP hitting 217p/kg by the end of the quarter, gaining 13p over the three months, suggesting producers would, on average, have been in profit by the end of it.

Prices have continued to rise since – the SPP topped 220p/kg for the first time in May, with the APP also hitting that mark. Meanwhile, wheat prices have continued to fall from around £200/t at the end of Q1 to around £180/t today.

This strongly suggests Q2 will finally see a return to profit for the UK pig sector. There is still, however, a very long way to go to recoup the losses that have built up during the previous 10 quarters.

Share. LinkedIn Facebook Twitter Email
Previous ArticleRebecca Veale to leave to NPA to join Boehringer Ingelheim Animal Health
Next Article Japanese importers visit UK to explore opportunities
Alistair Driver

Editor Pig World, group editor Agronomist and Arable Farmer and Farm Contractor. National Pig Association webmaster. Former political editor at Farmers Guardian. Occasional media pundit. Brought up on a Leicestershire farm. Works from a shed in his Oxfordshire garden.

Read Similar Stories

Meat industry rejects calls to ban CO2 in abattoirs

October 20, 2025

Brazilian pork production forecast to rise, as it becomes a bigger player on the global stage

October 20, 2025

Defra welfare advisors call for CO2 to be phased out as a means of stunning pigs

October 16, 2025
Latest News

Meat industry rejects calls to ban CO2 in abattoirs

October 20, 2025

Brazilian pork production forecast to rise, as it becomes a bigger player on the global stage

October 20, 2025

Defra welfare advisors call for CO2 to be phased out as a means of stunning pigs

October 16, 2025
Sponsored Content

Serious about pig welfare? So are we

October 16, 2025

All Vaccines Are Not Equal

September 15, 2025
Current Pig Industry jobs
  • Pig Unit Manager – Ref 1788 Northern Ireland

    • County Londonderry, Northern Ireland
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Pig Stockperson – Ref 1787 North Yorkshire

    • North Yorkshire
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Pig Stockperson/FarmWorker – Ref 1786 Essex

    • Essex
    • Roadhogs Recruitment Ltd.
    • Full Time
GETTING IN TOUCH
  • Advertise
  • Contact Us
  • Meet The Editors
  • About Us
  • Email Newsletters
  • Subscribe
  • Reuse permissions
OUR SOCIAL CHANNELS
  • Twitter
  • LinkedIn
PARTNER EVENTS
RELATED SITES
  • Farmers Weekly
  • Agronomist & Arable Farmer
  • Farm Contractor
  • National Pig Awards
  • Pigs Tomorrow
  • Poultry News
  • Weekly Tribune
  • Privacy Policy
  • Cookies Policy
  • Terms and Conditions
© 2024 MA Agriculture Ltd, a Mark Allen Group company

Type above and press Enter to search. Press Esc to cancel.