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UK: Edge pork prices down as slaughter numbers gain

Published Oct 2, 2024

Tridge summary

In the week ending 28 September, the EU spec SPP slightly decreased to 208.64p/kg, continuing a downward trend, while the APP remained stable at 211.77p/kg. The widening price gap between UK and EU reference prices has made EU imports more competitive. Despite an increase in GB's clean pig slaughter and higher carcase weights boosting pigmeat production, domestic retail demand for pig meat has declined year-on-year, with a drop in primary pork and processed pig meat volumes, although sausage sales have risen. Wet weather impacted summer barbeque demand, and the significant price differential along with weak retail demand could pose risks, though Christmas demand might offset this. Geopolitical tensions and exchange rate fluctuations are crucial factors affecting future trade and pricing.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

For the week ending 28 September, the EU spec SPP stood at 208.64/kg, a minor loss of 0.33p on the previous week. Prices have been easing since the start of the month, though weekly movements varied during the period. Since the beginning of the year, the SPP has lost 4.15p/kg. However, prices still continue to move in the broad band of 208.50 -211.50p/kg levels witnessed from June onwards. Increasing slaughter numbers, a slight softening in retail demand and widening price differentials between the UK and EU prices remain key drivers. The EU spec APP stood at 211.77p/kg for the week ending 21 September, losing 0.10p/kg on the previous week. This represents some stability following changes seen in the previous two weeks. Although the APP sees more volatile weekly movements, overall, the price series has seen little change since the start of the year, gaining 1.40p. The latest price differential between the UK and EU reference prices has increased to around 34.68p/kg compared to ...
Source: Ahdb
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