Pig Market Monthly Update – December 2022

Prices

SPP ends December at a new high,  the SPP averaged 200.59p/kg for the four weeks ending 31^st December, reaching a new record of 201.24p/kg in the final week of the year.  The APP deadweight prices have fluctuated throughout December from 204.02p/kg, to a high of 206.43p/kg at the end of the month. EU deadweight prices have increased from November, up 3.1% on average.

Costs

Historically high feed and fuel prices are continuing to drive high levels of agricultural price inflation. However, during January, feed prices for soymeal and delivered feed wheat have fallen. Input costs relating to energy, such as heating, have increased during the winter months and overall increased energy price inflation. Natural gas prices for the UK have now fallen back down to levels before the war in Ukraine but are set to remain high for 2023.

Production & Trade

Production figures for December saw a fall in pig meat production of 13%, to 80,100 tonnes in December. Slaughter levels stood at 885,000 head for December, down 11% on the month. This could be due to disruption over the Christmas period.

Imports increased by 2600 tonnes (3.8%) on the month, predominantly driven by the EU. In the year to date, imports have increased by 74,400 tonnes (11.2%). Exports of pork from the UK totalled 28,800 tonnes in November, up 353 tonnes (1.2%) on the month. For the year to date, pork exports have increased by 22,500 tonnes (7.1%) on the same period in 2021.

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