The meat processor’s share price had fallen to 4,980 GBX as trading closed on 12 May, down from 5,360 GBX at the close on 9 May.
The firm’s current market capitalisation is now just under £2.7 billion, down by around £200 million when compared to last week.
The footage was captured by an undercover investigator for charity organisation Animal Justice Project at Northmoor Farm in Lincolnshire, a farm operated by Cranswick subsidiary Elsham Linc Ltd.
It shows piglets being slammed against concrete by people working at the farm, a practice known as piglet thumping that is banned under UK law. Pigs can also be seen being kicked, kneed, jabbed and beaten with metal bars and shovels.
In response, a spokesperson for Cranswick said that the team working at the farm has been suspended while an investigation takes place. The meat producer declined to comment on the share price fall.
Meanwhile, Tesco, Sainsbury’s and Morrisons all told Food Manufacture that they had suspended the supply of meat products from Northmoor Farm while an investigation is carried out.
Commenting on the wider response to its investigation, Animal Justice Project founder Claire Palmer said: “It’s right that Cranswick is facing financial fallout and supermarket suspensions after the horrific abuse at Northmoor Farm.
“But this suffering happened on their watch – and is part of a wider, broken system. Supermarkets must not return to business as usual. It’s time to ditch animal farming for good.”
Speaking to Food Manufacture, Dr Tracey Jones, the global director of food business at Compassion in World Farming, described the scenes documented in the footage as “totally unacceptable”.
“We fully support the immediate suspension of the farm from the supply chains of the affected retailers and Red Tractor, as well as the removal of the individuals involved,” Dr Jones said.
“We urge Cranswick to act swiftly in conducting a thorough investigation, implementing robust corrective measures without delay. Interventions must include the establishment of clear protocols, effective systems and thorough staff training, particularly in the humane euthanasia of piglets and good handling techniques."
The news comes not long after Cranswick signed a 10-year supply partnership with Sainsbury’s that included a £61 million investment in welfare standards.
As part of this agreement, Cranswick said it would elevate the welfare standards of the ‘by Sainsbury’s’ British pork range beyond Red Tractor standards.
The firm was also recently denied permission to expand a farm site in Norfolk after its plans were rejected by King’s Lynn and West Norfolk Council.
