UK pig prices drop 9% on previous year
Despite being among the highest in Europe, pig prices have dropped by 9% year on year, according to the Department for Environment, Food & Rural Affairs (Defra) census, which covers 90% of the UK pig herd.
It showed that while there is a decrease in the actual number of pigs, both carcase weights and number of slaughterings are up, causing the drop in prices.
The ban on pigmeat imports imposed by Russia has hit most of Europe, with the average European prime pig price falling 22%, in sterling terms, from this time last year.
Stuart Ashworth, head of economic services at Quality Meat Scotland, said: “Restrictions imposed by Russia in late January, and reinforced by the August announcement, resulted in the loss of a market for almost 2% of European pigmeat production and a quarter of all EU pigmeat exports.
“Although some of this trade has been replaced by sales to Asian countries short of American pigmeat, some has been left on the European market, squeezing producer prices as a result.”