Nevertheless, substantially higher pig prices, relative to 2016, meant the share was eight percentage points higher than the same month a year earlier. The EU-spec APP lost 0.69p on the previous month during January, to stand at 153.85p/kg. This, coupled to a small increase in average retail prices, was responsible for the marginal decline in the producer’s share month on month.

Retail pork prices for most cuts were static on the month during January, though a few exceptions showed small increases. Minced pork and pork fillets showed price increases of 2 per cent, while loin chops rose by 1 per cent. Relative to January 2016, price movements were more mixed. Diced pork, minced pork and loin steaks were all back in price by 5 per cent, 4 per cent and 3 per cent respectively, while traditional pork sausages were only 1 per cent cheaper. Conversely, leg cuts were more expensive, with fillet end leg up 5 per cent on the year, while boneless leg was also up 3 per cent. A similar increase was also seen for boneless shoulder, while pork fillets rose by only 1 per cent and loin chops remained stable on the year.