Pig prices moved forward last week, with one major adding 3p to its weekly quote, followed by similar rises in other significant outlets, according to Thames Valley Cambac.
In its latest market update, TVC said the trigger for the long-awaited rise seemed to be the continuing shortage of supply, and a realisation that domestic demand shows no sign of easing off.
“Demand was keen with all the majors continuing to plan full weeks processing, despite some staffing issues caused by coronavirus,” TVC said.
“Supply was extremely tight with historic production issues being at its peak. Short-term forward forecasts show an inkling of improvement, but nowhere near back to normal.
“Demand in the fresh meat market was fairly buoyant, with many orders seeing increased number requirements. Prices here improved as well.
The cull sow market saw tighter volumes overall, but prices were generally similar.”
In Europe, prices were fairly static, with Denmark the only faller, down 4 eurocents. Price quotes in sterling were eroded however, by a weaker Euro that ended the week down 0.64p at 89.45p.
Supplies of both 30kg stores and 7kg weaners continued to be tight. Demand was good for both standard Red Tractor and Freedom Food accredited supplies. Prices generally improved, with the AHDB weighted average for a 30kg store pig up by £1.75 to £61.67, and the weighted average for a 7kg weaner rise by 2p to £42.88.
European Prices (p/kg.dwt) w/c 07/06/20 Movement on last week
European Av. 140.73 – 1.24
Belgium 128.94 – 0.92
Denmark 133.28 – 4.50
France 144.48 – 1.03
Germany 148.48 – 1.06
Ireland 147.14 – 0.60
Holland 133.15 – 0.95
Spain 149.65 + 0.37