Friday, 29 July 2022
We have just published our latest outlook for the UK pork market, where we explore our forecasts for slaughter, production, consumption and trade for 2022.
Key points from the July 2022 pork market outlook:
- A contraction in the breeding herd is expected, leading to a 6% fall in UK pig meat production, strongly weighted towards the second half of 2022
- UK demand is expected to weaken slightly as the year progresses, as pre-pandemic trends re-emerge along with wider increases in the cost-of-living
- Export markets remain challenging with Chinese demand slowing. Although exports had been increasing, higher GB pig prices and declining production may constrain future volume growth
- Imports are expected to grow in the second half of year as declines in demand are outweighed by declines in production
We will be reviewing our forecasts in January 2023.