Producers share of retail price hits highest in 31 months
The share of pork retail prices received by producers rose in February, averaging 40.5%. This represents half a percentage point increase on January and the largest share since July 2014.
While the EU-spec APP lost 0.70p/kg on the month during February, the average retail price recorded a greater decline of 6.7p/kg. This lead to the increase in the producers share month on month.
Despite pig prices decreasing marginally in February, they remained substantially higher than the same month a year earlier. Therefore, the producers share received was 10.5 percentage points higher year on year.
Retail pork prices for different cuts recorded differing trends on the month in February. Boneless leg saw the greatest decrease of 4% month on month. While boneless shoulder, loin chops and loin steaks fell by 2%, 1% and 1% respectively. However, fillet of pork, minced pork and traditional pork sausages all recorded a price increase of 1% on the month. Diced pork and fillet end leg prices both remained relatively unchanged on the month.
Relative to February 2016, price movements were also mixed. Boneless leg, loin steaks and minced pork were all 4% cheaper, while diced pork fell in price by 3% year on year. Likewise, both boneless shoulder and traditional pork sausages both decreased in price by 2%. On the other hand, fillet end leg and fillet of pork increased in price on the year by 5% and 2% respectively, while loin chops remained stable.
Millie Askew, Analyst
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