Weak demand continues to blight pork market – TVC

Weak demand on the domestic market continues to apply a brake to the UK pork market, although rising EU prices are providing a glimmer of hope. 

“Trade seems to be reflective between last week and this coming week with signs of little change regarding demand being still less than brisk, Thames Valley Cambac said in its latest market update.

“Perhaps as the week unfolds ahead of a short week to mark the funeral of our Queen, any additional demand might encourage buyers to stock up on and support British at a time of great reflection across the country. We certainly need to see demand for available products improve in Q4.”

Prices continue a ‘slow but forward trajectory’, with the SPP lifting 1.13p, the biggest weekly jump in just over a month, and after sticking for one week the German market stepped up another 5 cents to €2.10/kg. In the UK, most Q prices are over the £2.00/kg mark, which is very welcoming.

TVC added that it has been told that Pilgrim’s announcement last week that it will close two sites and reduce production at its Ashton site to four days ‘will not’ affect supply, but is ‘purely to drive efficiencies making their production systems more affect/streamline’ , adding that no further reduction in numbers will occur.

The weaner market was subdued last week, with little interest from fatteners. Little will change until costs reduce and/or finished prices increase. Supplies were therefore confined to regular contracted movements only, TVC added. There was insufficient data issued for the AHDB to formulate any prices.

UK and European prices (p/kg) w/c 11/09/22        Movement on last week
GB SPP                       199.53                                     + 1.13

Tribune Spot Bacon    204.61                                     + 0.61

European Av.              177.98                                     + 2.08

Belgium                      168.07                                     + 2.90

Denmark                     144.80                                     + 0.64

France                         212.03                                     + 1.80

Germany                     182.41                                     + 5.13

Ireland                         182.41                                     + 2.54

Holland                       162.08                                     + 0.71

Spain                           194.05                                     + 0.85

Tags: pork