Prices continue to face pressure: Pork market update

• The SPP stood at 178.47p/kg for the week ending 23 May, down 28.18p year on year
• Estimated GB pig slaughter for the week ending 23 May totalled 170,700 head, up 13,190 head year on year
• Average carcase weights remained above year-earlier levels at 92.68kg, which is 2.26kg higher than the same week in 2025

GB pig prices have remained below the 180p/kg mark for the third consecutive week. The SPP has now fallen by nearly 15p since the start of this year.

For the week ending 23 May, the SPP stood at 178.47p/kg, representing a weekly decline of 1.13p/kg and placing the price 28.18p/kg below the same period last year. The SPP also remains 14.78p/kg below the five-year average and has now been below this benchmark for nine consecutive weeks.

Figure 1. EU spec SPP

Source: AHDB

The line chart in Figure 1 shows year-over-year comparisons of the GB standard pig price for 2024 (green line), 2025 (dark blue line) and 2026 (light blue line). Comparisons are made to the five-year average (2021-2025) (grey dashed line).

Estimated GB pig slaughter for the week ending 23 May totalled 170,700 head, a slight decrease of 300 head compared with the previous week. Despite this marginal reduction, clean pig slaughter remains significantly higher than last year, up by 13,190 head. This may indicate that processors continue to work through an industry backlog.

Average carcase weights remained above year-earlier levels at 92.68kg, which is 2.26kg higher than the same week in 2025. However, weights declined by 0.5kg compared with the previous week, suggesting some easing of the elevated weight levels seen earlier in the year.

Average clean pig weights have now fallen by 3.08kg from the peak recorded at the beginning of January.

European pig prices have continued to soften in recent weeks. For the week ending 24 May, the EU Grade S reference price stood at 142.64p/kg, down 0.47p/kg on the week.

This marks the fifth consecutive weekly decline in the EU reference price. Since its spring recovery following market disruption caused by African swine fever (ASF) outbreaks in Spain, the EU Grade S price has fallen by 5.49p/kg.

Price movements across member states were mixed. Spanish prices remained broadly stable, increasing by just 0.05p/kg, while Belgium recorded a decline of 1.45p/kg. Danish prices also fell by 1.29p/kg amid reports of subdued demand and continued strong production levels.

As a result of these movements, the gap between UK and EU reference pig prices narrowed to 41.08p/kg. This is 28.92p/kg lower than the differential recorded in mid-January.

Figure 1. UK and EU weekly grade S reference pig prices

Source: Eurostat

The line chart in Figure 2 shows the evolution of weekly UK (blue dashed line) and EU (green solid line) reference pig prices in p/kg from 2024 to 2026.

Average pig weights remain well above year-earlier levels, although recent data suggests they are beginning to ease, indicating that processing backlogs may be gradually reducing. Seasonal factors, including warmer weather, could further contribute to lower carcase weights in the coming months.

Reports of processors serving contract notices suggest that lower prices and heavier pigs have increased pig meat availability, while some processors are introducing additional slaughter days and extended operating hours to help clear remaining backlogs. If sustained, these measures could significantly reduce backlogs.

Domestic demand remains weak. Whilst retail sales of primary pork are in growth the overall category has seen a 3% reduction in sales volumes over the 12 w/e 19 April. The driver of this has been the drops in purchases of processed products such as bacon, sausages and ham. Heightened consumer concern around ultra-processed foods (UPFs) have impacted these categories. Overall, subdued demand combined with strong supply continues to weigh on pig prices.

Looking ahead, seasonal factors may provide some market support. Warmer weather typically boosts demand for barbecue products, while major sporting events such as the FIFA World Cup could increase retail and foodservice consumption. However, any improvement in prices or reduction in weights is expected to be gradual, with market adjustments likely to occur over the coming months rather than in the short term.

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