November pork cost of production

We continue to see a turbulent marketplace for inputs, with feed values playing a prominent role in the changes to Novembers estimate.

Compound spot feed prices that witnessed increases in October have eased in the November estimate, although still higher than the levels seen in the spring.

 With the bank base rate now at 2.93% for November, short and long-term interest rates have increased. Fuel prices continue to fluctuate, and energy prices are being maintained, but at an elevated level.

 As a result, the full economic cost of production is currently estimated to be 232p/kg deadweight in November, assuming average technical performance (based on 12-month averages ending 30 September 2022).

Assuming SPP and APP at 200p and 205p per kg deadweight respectively, this would result in estimated negative margins of between -£23 and -£29 per slaughter pig.

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