UK pig prices - week ended 26 July 2014
For the week ended 26 July, the GB SPP fell to 160.94p per kg. This marked a decline for the fourth consecutive week as prices fell to their lowest point since April 2013.
For the week ended 26 July, the GB SPP fell to 160.94p per kg. This marked a decline for the fourth consecutive week as prices fell to their lowest point since the new series began. Indeed, the EU-spec DAPP for the same week, which stood at 160.93p per kg, was the lowest since April 2013. This year, prices have shown a contrasting trend to the previous two years, when finished pig quotations in the summer months remained firm. However, falling prices are not unusual at this time of year, as demand eases during the holiday period, especially with warm temperatures suppressing demand. The latest developments in pig prices could also be partly influenced by falling prices in the EU. As such, the DAPP fell to 7p below last year’s level. Average carcase weights increased marginally on the previous week and remained slightly ahead of last year’s level, as did estimated slaughterings.
The GB APP for week ended 19 July also followed the declining trend, losing a penny to stand at 163.87p/kg. This is 2.39p more than the SPP for the same week.
The average 30kg weaner price rose in the latest week, ended 26 July, to £57.03 per head. This was almost £2 higher compared with a week earlier and the highest price recorded since early May. The large increase came despite falling finishing pig prices, indicating firm producer confidence, which might be a product of falling feed prices of late. The price in the latest week was just over £3 higher compared with the same week in 2013. The 7kg weaner market, on the other hand, edged down slightly to £39.71 per head. This was the lowest price recorded since early July 2013 but the yearly gap showed prices only around £1 below the previous year’s level for the same week.