Pig numbers remain tight as we approach the second month of 2023, and with the SPP lifting another 0.67p/kg, the upward trend is set to continue, according to Thames Valley Cambac.
“With supply beginning to thin out, processors are becoming increasing concerned, not just with the current shortages, but what the future will hold as we certainly have not seen the bottom in supply yet,” TVC said in its latest market update.
It reported that one major processor added a further 4p/kg in an attempt to secure more pigs, although this only brought them more in line with others. “Nevertheless, others are keeping their inputs close to their chest which is a little frustrating given all the recent talks about ‘more transparency with the supply chain,” TVC added.
“Domestic demand is still ‘lacklustre’, according to some of the processors, but we know this is often the case for at least the first 6-8 weeks of every year.”
For European pig prices, it is generally a case of stand on, but TVC has been told from one source in Belgium that the price looks very likely to rise as numbers over the water begin to tighten as well. Cull sow price has risen a welcome 4p/kg due to lack of supply rather demand.
Weaner and store numbers remains tight with production affected by the hot weather period last year.
UK/European Prices (p/kg) w/c 29/01/23 Movement on last week
GB SPP 202.52 +0.67
Tribune Spot Bacon 205.48 +0.95
European Av. 173.05 +1.62
Belgium 158.63 +0.51
Denmark 131.12 -1.94
France 212.68 +7.00
Germany 175.77 +0.57
Ireland 177.53 -2.93
Holland 159.16 +4.11
Spain 196.34 +4.06
(Ref Weekly Tribune)