UK pig prices - week ended 5 July 2014
The EU-spec DAPP fell back by a penny for week ended 5 July, leaving it at 162.87p per kg, its lowest level since March.
The EU-spec DAPP fell back by a penny for week ended 5 July, leaving it at 162.87p per kg. This was its lowest level since March and indicates that the supply of pigs continues to run somewhat ahead of demand. Lacklustre consumer demand continues to be a feature across the fresh meat sector, with the good weather of late not helping. At the same time, estimated slaughterings continue to run ahead of last year, although average carcase weights are now close to year earlier levels. Prices don’t normally peak until later in July, when summer holidays start to impact on demand, but the decline has set in earlier this year. This means that the latest price is around 6p lower than in the equivalent week last year, the biggest year-on-year drop since March 2011.
The new GB Standard Pig Price (SPP) also fell back in the week ended 5 July; a decline of 0.71 took it to 162.86p/kg. The GB APP for the previous week, ended 28 June, dropped fractionally to stand at 165.06p/kg.
As has been the case all year, the weaner market remains broadly stable, with falling feed costs helping to provide support to prices. The average price for a 7kg animal was down 90p to £40.31 per head but this remains in line with recent weeks. The latest week represents the anniversary of the first calculation of the 7kg weaner price, when it was about a pound lower than it is now. The 30kg price rose fractionally to £56.65/head, a little over £3 higher than in the same week last year.