United Kingdom pig prices continue the recent downtrend

GB pig prices have eased over the last two months. The EU spec SPP has declined 3.95p over the last four weeks and is currently at 217.78p/kg (w/e 04 November). Prices are still well above the 5-year average and also above last year’s levels. One of the factors behind these price declines is falling pig prices in the EU marketplace. GB prices are strongly influenced by those across the EU, with the EU the main supplier of imported product. The EU average reference price has been under pressure for nearly four months, after the peak was recorded at 215.45p/kg for the week ending 23 July. Since then, prices have fallen by 30.7p/kg. The volatility in the EU market has been more pronounced than the price declines we have seen in the UK. Weak domestic and international demand continues to be another driver for downward price moves. Within GB, rising geopolitical uncertainty, inflationary pressures, and the cost-of-living crisis has meant consumption of most proteins is under pressure. ...