Scottish pig meat prices drop 17% year-on-year
The price of Scottish pig meat is down 17% on this time last year, the latest market information from Quality Meat Scotland (QMS) has revealed.
However, Scotland’s prime pigmeat prices are maintaining their premium over European prices, said Stuart Ashworth, QMS head of economics services.
“History would tell Scottish prime pig producers to expect farmgate prices to rise seasonally to a high point at this time of year,” Ashworth said. “However, this year producers have seen little movement in prices over the first half of the year, in fact current prices are very similar to those in late February.”
QMS said there were a number of factors driving this situation. The price pressure is due, in part, to an increase in UK pig production. Over the first half of the year prime pig slaughterings increased by almost 4% and prime pork production increased by 5%.
Stuart added: “Meanwhile Kantar [Worldpanel] retail market analysis suggests that demand for primary pork products is under pressure despite falls in retail prices. However, because the UK is only around 60% self-sufficient in pigmeat products, there is an opportunity for domestic production to maintain volumes, at the expense of imported product.”
Farmgate prices are also dropping across Europe, with Danish pig farmers receiving prices 11% lower than last year, Germany and Poland at 15% lower and Spain and the Netherlands 18% lower.
QMS said that with UK and European production expected to continue at higher levels than last year for the remainder of 2015, it was likely that pig producers were going to have to wait a while for prices to firm.
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01 - 03 November, 2016
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