UK: Q4 2023 pork cost of production
These estimates use performance figures for breeding and finishing herds. It indicates that the full economic cost of production for Q4 2023 is estimated at 195p/kg deadweight, with margins per slaughter pig estimated at £19 per head. The estimated cost of production has stayed consistent with 2023 Q3, when the estimated cost of production also stood at 195p/kg.
Feed costs have also remained consistent with Q3 2023 and make up an estimated 62% of total costs in the fourth quarter of 2023. This is compared to Q4 2022, where feed costs made up 69% of total costs.
Energy costs have continued to reduce into Q4, compared to high prices through 2022 and the beginning of 2023. Fuel costs have risen slightly this quarter which has contributed to production costs staying consistent despite falling energy costs.
Pig prices were at historic highs in Q3, but prices have since fallen by 8p to 216p/kg (APP). These falling prices have contributed to the reduction in net margin levels.
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