Big uplift in EU pig prices adds further support to UK market

The EU reference price for pigs has gained a massive 18p in the space of just four weeks, providing strong support for UK pig prices. The EU reference price, which covers the major pig producing countries, stood at 195.44p/kg for the week ending February 19, following these gains, In comparison, despite a steady rise in the SPP in recent weeks, the UK reference price has remained relatively steady over the four-week period, seeing an increase of just over 1p to stand at 206.51p/kg for the week ending 19 Feb. That puts the gap between the UK and EU reference prices at just 11p, which is low by historic standards and down from a gap of nearly 30p in late-January. “Looking at historical trends, EU pig prices typically see an uplift as spring approaches,” said AHDB analyst Freya Shuttleworth. “Reports of tight supply in slaughter-ready pigs on the continent have likely brought forward this price rise by a few weeks as processors try to match supply with demand.” Several key EU pig ...