The producer share of retail pork prices has hit a 28-month high, increasing once again in November, by 1 per cent on the month, to 40%.
This is the largest share received since July 2014 and is six points higher than a year ago. Retail prices fell slightly (-0.6%) on the month in November and were similar to the same point in 2015, meaning that further increases in GB pig prices were responsible for the increase in producers’ share.
The value of UK pork exports was up on the year yet again during October, climbing by 13% to reach £21.4 million.
As for the previous month, this increase occurred in spite of declining export volumes, which were down 11% relative to 2015 at 15.5 thousand tonnes. The UK continued to exploit the weaker value of the pound, as higher unit prices in sterling terms were less notable in stronger currencies such as the euro.
A significant 32% decline in shipments to Germany, relative to the month last year, was key to driving the overall fall in export volume. Ireland also took 9% less during this period, while the Netherlands saw a 26% decline in shipments.
With UK production 5% behind year earlier levels during October, including an 11% fall in sow slaughterings, limited supplies likely restricted exports to these markets.
