Producer’s share of pork price remains at record high in July
At 44% the producer’s share of the retail pork price recorded a marginal gain (0.2 percentage points) on the month in July and is the largest proportion received by producers since records began in 2009.
The current share is nine percentage points higher than July 2016. The average farmgate price continued to increase in July, rising by 1% on the month and was 28% higher than the same period a year earlier. At the same time, the average retail price increased by 1% both month on month and year on year.
In terms of individual cuts, the price of both loin steaks and boneless leg increased by 2% on the month in July. Traditional pork sausages and loin chops recorded a 1% increase, while minced pork fell by 1% in value month on month. The retail prices of other cuts, namely, fillet end leg, boneless shoulder, pork fillet and diced pork all remained unchanged.
Compared to July 2016, fillet end leg recorded the greatest change in value, increasing by 7%. The price of loin chops increased by 3% and boneless leg and boneless shoulders both increased in value by 2% year on year. Loin steaks, pork fillet and diced pork remained unchanged in price compared to July 2016. However, traditional pork sausages and minced pork declined in value by 1% and 4% respectively year on year.
Dorian Harris, Analyst
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