With the focus of farmers very much on farmgate prices at the moment, pig farmers have much to celebrate as prices have risen to their highest level since February 2015.
The EU-specification Standard Pig Price (SPP) for the week ending 27 August has risen 1.29p to 137.30p/kg.
Meanwhile, the Average Pig Price (APP) increased by 0.95p to 138.24p/kg, up 1.63p/kg on the same period last year – the highest APP recorded in 19 months.
The price for animals, both 30kg and 7kg category weaners, has risen significantly recently, with 30kg weaners enjoying their largest weekly increase since January 2015, rising by £2.36 to £47.88 a head.
Despite this positive news, experts are warning of increased figures from the feed sector, which show that profitability is likely to be affected by a gradual increase in feed prices.
AHDB Pork senior analyst, Vikki Campbell, said: “Despite a substantial market recovery, the legacy of the February lows is still in the minds of most producers.
“China has proved to be the golden goose for many, with more than half of UK exports going there.”
But she added: “With EU and domestic demand pretty flat, many will wait until more secure markets are established before making increases to herd size.”