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
    • December 2023
    • November 2023
    • National Pig Awards Supplement 2023
    • October 2023
    • September 2023
    • Health Supplement
    • August 2023
    • Pigs Tomorrow Supplement
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Equipment
  • Events
    • Pigs Tomorrow
    • National Pig Awards
Subscribe Podcast
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. December 2023
    2. November 2023
    3. National Pig Awards Supplement 2023
    4. October 2023
    5. September 2023
    6. Health Supplement
    7. August 2023
    8. Pigs Tomorrow Supplement
    Featured

    Pig World – December 2023

    December 1, 2023
    Recent

    Pig World – December 2023

    December 1, 2023

    National Pig Awards Supplement 2023

    October 31, 2023

    Pig World – November 2023

    October 31, 2023
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Equipment
  • Events
    • Pigs Tomorrow
    • National Pig Awards
LinkedIn X (Twitter)
Pig World
Business

Pig industry moves back into the black as Q2 financial performance improves

Alistair DriverBy Alistair DriverAugust 1, 20232 Mins Read
LinkedIn Twitter Facebook Email

The British pig sector finally moved back into the black in the second quarter of this year, after 10 successive debilitating quarters, during which the industry racked up debts estimated to be in excess of £750 million. 

AHDB’s latest net margin figures show pig producers made a profit, on average, of £22/head between April and June. That was up from a narrow loss of £1/head in Q1 and a massive improvement on the figure of -£52/head during the equivalent quarter last year, which followed an average loss of -£58/head in Q1.

AHDB margins Q2 23

The full economic cost of production for Q2 2023, based on performance figures for breeding and finishing herds, was estimated at 196p/kg deadweight, down by 17p/kg from the 2023 Q1 estimated figure of 213p/kg. That was driven by a 17p reduction in feed costs, which at an estimated 123p/kg, made up an estimated 63% of total costs, the lowest percentage since Q3 in 2020.

However, interest rates continued to rise in Q2 2023, which put pressure on costs associated with buildings, mortgages, and any related finance.

Pig prices have risen throughout Q2 2023, up 10p to 221p/kg (APP), and up 13p to 221p/kg (SPP), resulting in a net margin, based on the APP, of 25p/kg, or £22/head, the highest figure since Q3 2020.

Within that industry average, individual performance will vary significantly, depending on a range of factors, including pig contracts, the extent to which feed prices were locked in a higher prices and other efficiency and cost differences.

AHDB Q2 23 price cost data

Since the end of Q1, pig prices have continued to rise, with the SPP now at 225p/kg, but feed costs rose rapidly since the end of the Black Sea Grain Deal was confirmed in mid-July, although they have dropped back since, with November feed wheat at £196/tonne today, after hitting around £215/tonne in late-July.

Share. LinkedIn Facebook Twitter Email
Previous ArticleEFRA committee calls for ‘sea change’ in Government attitude towards food security
Next Article A diamond of a day, as the AM Warkup ‘family’ celebrates 60th anniversary
Alistair Driver

Group editor - Pig World and Agronomist and Arable Farmer. Also National Pig Association webmaster. Former political editor at Farmers Guardian. Enjoys a bit of media punditry. Brought up on a Leicestershire farm. Works from a shed in his Oxfordshire garden. Under-9 football coach and big fan of Leicester City and Leicester Tigers. Occasional cricketer.

Read Similar Stories

UK pork production forecast to edge up, as Robobank sets out global protein production trends

December 1, 2023

New Defra Secretary unveils £45m in farm funding opportunities

November 30, 2023

EU market stabilises after recent rapid decline, with partial production recovery predicted

November 30, 2023
Latest News

UK pork production forecast to edge up, as Robobank sets out global protein production trends

December 1, 2023

Pig World – December 2023

December 1, 2023

New Defra Secretary unveils £45m in farm funding opportunities

November 30, 2023
Sponsored Content

Porcine Circovirus: Is Clinical Disease Just the Tip of the Iceberg?

November 1, 2023
Current Pig Industry jobs
  • Senior Pig Stockperson – Ref 1473 Scottish Borders

    • Scottish Borders
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Pig Unit Manager – Ref 1472 Yorkshire

    • North Yorkshire
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Pig Stockperson – Ref 1471 Norfolk

    • Norfolk
    • Roadhogs Recruitment Ltd.
    • Full Time
GETTING IN TOUCH
  • Advertise
  • Contact Us
  • Meet The Editors
  • About Us
  • Email Newsletters
OUR SOCIAL CHANNELS
  • Twitter
  • LinkedIn
PARTNER EVENTS
RELATED SITES
  • Farmers Weekly
  • Agronomist & Arable Farmer
  • Farm Contractor
  • National Pig Awards
  • Pigs Tomorrow
  • Poultry News
  • Privacy Policy
  • Cookie Policy
  • Terms and Conditions
© 2023 Lewis Business Media. All Rights Reserved | Lewis Business Media, Suite A, Arun House, Office Village, River Way, Uckfield, TN22 1SL

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