MARKET UPDATE

Pigs

The DAPP rose by more than a penny in the week ending 10 June to 103.2p/kg dw. This was the largest weekly increase since March last year. As well as tighter domestic

supplies, firmer European prices are likely to have been a main driver behind the increase. The average price of pigs in the 80-89.9kg category rose by as much as 1.4p/kg.

The average EU pig reference price rose nearly 2% in the week ending 4 June to the equivalent of just under 100p/kg. Increased demand for pigmeat in Germany during the World Cup is expected to result in an increase in producer pig prices over the coming weeks.

The increase in the average pig producer price between April and May was greater than the rise in the average retail price for pork and so the percentage spread narrowed slightly to 65%. There was little change in the price of the various pork cuts during May.

Cattle

The average cattle price at GB auction

markets continued to rise in the week ending 10 June to 115.73p/kg lw. Supplies were reported to be tight and good retail demand helped lift the trade further on the week. The steer price was up by 2p to average 116.71p /kg, heifers and bulls were both up 3p/kg on the week to average 117.85p and 111.17p per kg. The deadweight heifer price increased by just over a penny on the week to average 209p per kg.

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