Pig prices reached a record high in the last week of 2022, rising to over 201p per kg, as the industry sees 'slightly more optimism' for the year ahead.
The EU-spec GB SPP rose by 0.68 to hit a new record level of 201.24p/kg in the week ended 31 December.
It followed a more modest 0.08p rise in the week ended 24 December, making it a fourth successive weekly increase.
The SPP is now nearly 61p ahead of a year ago, with the National Pig Association (NPA) saying it reflected a strengthening of the EU market.
The body said there were also reports of a tightening of supplies and rising spot market prices in the UK.
"Processor contribution prices remain largely unchanged and a long way short of the average pig price," the NPA added.
In the week ending 24 December, the APP dropped back, losing 0.85p to reach 204.02p/kg. The gap between the two price averages was down to 3.5p.
The latest prices follows the NPA's chairman Rob Mutimer saying that 2023 must be the year that sees profitability return to pig farming.
Post-Brexit labour challenges and surging feed and energy costs have severely impacted the UK pig sector.
"I am slightly more optimistic than I was three months ago – but this year has to be about getting some profitability back into pig farms," he said in his new year message.
"There are more positives than there have been for a while. I think we have got a shortage of pigs coming, both in this country and in the EU, but how big it will be and when it will materialise, I don’t know."
The massive input inflation, particularly around feed costs, wrecked 2022 for many pig businesses, but that situation was improving, Mr Mutimer said.
"Tightening pig supplies and the falling grain price does give me some confidence - we just need to recoup some of the massive losses we’ve endured."
