2024 pig cost of production in selected countries: Overview

Overall, 2024 was a positive year for pig producers in Great Britain (GB), the European Union (EU) and internationally compared with volatility in previous years. Production costs stayed relatively consistent, with feed prices dropping and energy, fuel and finance costs easing.  

• The average cost of pig production for indoor pigs in GB dropped slightly to £1.92/kg, staying broadly consistent with 2023 where costs were £1.94/kg 

• For the EU, the average production costs dropped to £1.69/kg compared with 2023 which was £1.89/kg 

• Italy had the highest costs of production in the EU for the third consecutive years at £2.04/kg  

• In GB, the average price of pigs dropped from £2.18/kg in 2023 to £2.10/kg in 2024 

• The EU average pig price dropped to £1.76/kg in 2024 from £1.98kg in 2023 

Figure 1. Cost of production in select countries, 2024 cold weight

Source: Interpig 

Although there was a decline in pig prices in 2024, corresponding easing production costs meant there was not a significant impact on net margins.

Feed costs are the largest portion of production expenses at around 60% of costs. In the EU, feed prices fell from £1.15kg in 2023, to £0.98/kg in 2024. GB indoor feed prices dropped by 6% from £1.25/kg in 2023 to £1.18/kg in 2024. GB outdoor feed prices dropped by 9% from £1.28/kg in 2023 to £1.16 in 2024.

During 2022 and 2023 there was a lot of change in markets and input costs with feed, fuel and energy prices rocketing as well as interest rates. This started to settle at the end of 2023 and over 2024 both energy and finance costs have levelled off and stayed consistent across most countries and therefore had less of an impact on producer costs compared to previous years.

Pigs weaned per sow per year increased slightly for GB indoor pigs in 2024, up from 27.8 in 2023 to 28. There was a small decline in pigs weaned per sow per year for GB outdoor pigs by 2% to 24.6. The EU average for 2024 was 30.27 pigs weaned per sow, up from 30.12 in 2023.

Pigs finished per sow per year grew for indoor pigs in GB up 1% from 2023 to 26.8 pigs finished. Outdoor pigs declined slightly from 24 pigs finished per sow per year in 2023 to 23.6 in 2024. The EU saw a slight increase from 2023 up to 29.22 pigs finished per year for 2024.

The pig production costs in 2024 for all the countries covered in this series are shown above.

This data includes all variable and overhead costs, other than transport of pigs to abattoirs and abattoir-related deductions, such as carcase classification and statutory levies paid at slaughter.

Overhead costs include depreciation and interest costs for capital items such as buildings and equipment.

Costs for regular and casual labour are included but directors’ salaries or partners’ drawings are not included.