Rising pig price enables producer share of retail price to increase
The producers’ share of retail pork prices has now been rising for six consecutive months, reaching 37% during September.
This was 1% up on the previous month, and 2% higher than the same period last year. However, the share still remains 3% lower than the 40% stake enjoyed by producers during September 2014.
The continuing increase in GB pig prices was responsible for raising the producers’ share of pork retail prices last month. The retail price remained static during September, at a level 1% below that seen at the same point in 2015. Meanwhile, the EU-spec APP climbed 4p/kg on the previous month, and was a substantial 7p/kg higher than the September 2015 price.
Despite overall retail prices remaining stable, there was movement in the price of individual cuts. Fillet end leg reported a price increase of 4% on the previous month, while boneless leg and shoulder cuts also showed price increases of 2% and 1% respectively. Most other cuts showed small price falls of 1% during September this year, with the exception of minced pork which declined 2%.
Compared to September 2015, the trends are again mixed. The price of many cuts has fallen, including sausages, diced pork and loin steaks (-4%), loin chops (-3%) and minced pork (-2%). These price declines have been partially offset by other cuts increasing in value during this period. Fillet of pork showed the most substantial increase in retail price of 3%. Fillet end leg was also up 2% on the year, while boneless leg and shoulder increased in price by 1%.
Bethan Wilkins, Trainee Analyst
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