Weak demand continues to hold the pig market back from where it should be as supplies continue to tighten due to farmers exiting production, according to Thames Valley Cambac.
In its latest market update, TVC said the change in month brought little change in fortunes with demand ‘stubbornly lacklustre’.
“It is in stark contrast to where the market should be,” TVC said. “Prices came under a touch of pressure with the SPP falling for the first time since February, reporting heavier and fatter pigs, albeit on a lower sample from the Royal funeral Bank holiday week.
“Porkwatch surveys shows evidence that some major retailers are preferring to stock cheap imported supplies to ‘help’ their customers with the cost-of-living crisis, thus reducing demand for domestic products. This may be part of the reason for the poorer uptake we are seeing.”
Meanwhile, fresh meat markets are reportedly reflecting the quieter high street. The cull sows fell a couple of pence on the back of poorer continental trade, while prices in Europe eased with the influential German market down 10 eurocents, which initiated a similar fall in Belgium. The Euro ended the week little changed, up 0.10p at 88.30p.
The weaner market remained very quiet with ‘only the very brave willing to participate’, as feed costs remain volatile and uncertainty in the finished market leaves fatteners with little confidence. There was insufficient data for AHDB to formulate any prices.
UK and European Prices (p/kg) w/c 02/10/22 Movement on last week
SPP 200.01 – 0.21
Tribune bacon spot 204.48 n/c
European Av. 178.63 – 2.18
Belgium 160.53 – 7.85
Denmark 147.20 + 0.17
France 217.57 + 0.68
Germany 176.60 – 8.62
Ireland 185.43 + 0.21
Holland 165.74 + 0.01
Spain 197.26 + 0.22
Ref: Weekly Tribune