Pig Prices (UK Spec)

• UK-spec SPP ↑1.08p to 152.57p/kg (w/e 5 October)
• Estimated slaughter ↑3,200 to 184,000 head (w/e 5 October)
• UK-spec APP ↑0.27p to 153.61p/kg (w/e 28 September)

The UK-spec GB SPP recorded the largest week-on-week increase since June in the week ending 5 October, reaching 152.57p/kg. The pig price is now up 8.41p compared to the same week last year.

Estimated slaughter in the same week reached 184,000 head. This was a 2% (+3,200 head) increase on the previous week and an 11,600 head increase on the same week last year. Carcase weights also increased on the previous week, averaging 85.96kg.

It seems that good export demand and higher import prices have started to drive increased upward momentum in pig prices. The Traffic Lights spot base has been above the SPP for a few weeks now, suggesting supplies are relatively tight when compared to demand. This is despite industry reports suggesting domestic retail demand has been patchy.

For the week ending 28 September, the UK-spec APP gained 0.27p on the previous week to average 153.61p/kg. During the same week, the SPP grew by 0.46p, so the gap between the SPP and APP narrowed.