Q2 2023 Pork cost of production

These estimates use performance figures for breeding and finishing herds*. It indicates that the full economic cost of production for Q2 2023 is estimated at 196p/kg deadweight, with margins per slaughter pig estimated at £22 per head. The estimated cost of production has fallen by 17p/kg from 2023 Q1, when the estimated cost of production stood at 213p/kg.

Feed costs have fallen again from the first quarter of 2023 by 17p and now make up an estimated 63% of total costs in the second quarter of 2023. This marks the lowest percentage of feed costs as total costs since Q3 in 2020.

However, interest rates continued to rise in Q2 of 2023 which put pressure on costs associated with buildings, mortgages, and any related finance.

Pig prices have risen throughout Q2 2023, up 10p to 221p/kg (APP), and up 13p to 221p/kg (SPP) from Q1. These historically high prices helped bring the net margins to levels not seen since Q3 of 2020.

*Due to changes in provider, the figures for Q2 2023 feeding and breeding herds use twelve-month performance data from 31 March 2023.  

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