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Australian pig prices are on the up

The Australian pig industry has been suffering financial losses for the past year, but pig producers are now finally looking set to reap the rewards of hanging on and getting through the industry's most challenging period.

An influx of imports and low prices prompted many producers to exit the industry in recent months but the ensuing shortage of pig meat has resulted in new price highs.

Australian Pork Limited chief executive Andrew Spencer said that, with the exception of Western Australia where prices have remained mostly stagnant, producers across Australia are now enjoying good returns.

"In the past two months prices have risen remarkably quickly and sharply, and they are not showing any signs of plateauing," he said.

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