Q3 2023 Pork cost of production

The latest AHDB quarterly cost of production and margin estimations have been published for 2023 Q3.

These estimates use performance figures for breeding and finishing herds*. It indicates that the full economic cost of production for Q3 2023 is estimated at 195p/kg deadweight, with margins per slaughter pig estimated at £25 per head. The estimated cost of production has fallen by 1p/kg from 2023 Q2, when the estimated cost of production stood at 196p/kg.

Feed costs have fallen slightly again and now make up an estimated 62% of total costs in the third quarter of 2023. This is compared to Q3 2022, where feed costs made up 70% of total costs.

Energy costs have also been reducing which has contributed to falling cost of production, compared to high prices through 2022 and the first half of 2023. More recently though, fuel costs have risen slightly quarter, which has limited the fall in production costs.

Pig prices have been at historic highs over Q3 2023, up 3p to 224p/kg (APP) from Q2. These high prices have helped keep net margins levels higher than previous quarters. September did however see falls in pig prices, which is a factor to look out for in coming quarters.

*Due to changes in provider, the figures for Q3 2023 feeding and breeding herds use twelve-month performance data from 31 March 2023.

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