UK: Processor concern as pig numbers continue to tighten

Pig numbers remain tight as we approach the end of the first quarter of 2023, with the SPP lifting another 2.04p to nearly 210p/kg last week – a welcome step up from disappointingly small hikes over the previous two weeks, according to Thames Valley Cambac. “With supply still very thin, with little signs of improvements, processors are becoming increasingly concerned, with current shortages, especially if demand starts to pick up as it often does from this period, going from year on year trends,” TVC said in its latest market update. “One major processor added a further 3p/kg in an attempt to secure more pigs – however, this merely brought them more in line. Nevertheless, other inputs increased marginally with some still not even parity to SPP. In a rising market this seems inappropriate given they would be well below the SPP if the trend was the other way!” As for Europe, the big movers where France, Ireland and Spain (up 5.6p, 2.95p, 3.9p respectively) – some prices were down ...