Pigmeat Market June 23, 2016 12:00 am The UK pigmeat market has been recovering slowly since April. The EU-spec SPP for the week ending 18th June was 1.13p/kg up on the week to 121.53p/kg. This is now the 11th consecutive weekly rise, although prices are still in the region of 11p below where they were this time last year. An increase in the EU price has helped domestic prices. Domestic supplies are also tightening and the weakening of the Pound has not only narrowed the price premium of UK pigmeat over EU, it has also helped to increase exports. Exports to China from all the main EU Member States have seen shipments more than treble compared to year-earlier levels, helping boost UK prices. Exports to China from the UK now including prime cuts not just cheaper offal. Looking ahead, there is an expectation that domestic production could tighten as the breeding herd contracts. Sow slaughterings are running 4% ahead of 2015 levels. This should help bolster prices over the next few months.
