UK pig prices - week ended 1 November 2014
For the week ended 1 November, the EU-spec GB SPP fell to its lowest point since the series began in April, at 149.76p per kg.
For the week ended 1 November, the EU-spec GB SPP fell to its lowest point since the series began in April, at 149.76p per kg. Please note that one plant is again missing from the SPP sample this week. In fact, this was the first time any deadweight price was below 150p per kg since the DAPP in mid-June 2012. As the SPP continued to fall, it showed a difference of 13p since the series began and was 22p below the DAPP in the equivalent week last year, when it was just below its record high point. EU prices have showed some stability of late, so the continuing price falls indicate that domestic demand in the UK remains subdued. AHDB/BPEX weekly estimates show slaughterings in the latest week were close to last year’s level at 171,300 head but with reports of pigs still being rolled, the supply of pigs may be higher than this. Carcase weights dipped slightly for the week ended 1 November, falling by 250g to 82.64kg. In addition, the average probe measurement also declined to 11.4mm, down by 0.2mm from the week earlier. For the week ended 25 October, the EU-spec GB APP fell by 1.25 to 154.83p per kg. During the same week, the SPP stood at 151.09p/kg, a difference of nearly 4p between the two price series.
At £48.91 per head, the average weekly price of a 30kg weaner rose by £1.42 compared with a week earlier. An increase in weaner prices is typical for this time of the year but the underlying trend still seems to be downward. The latest support to the weaner price could be partly related to a reported reduction in throughputs. However, prices remain around £7 lower than the same week last year. For the same week, the price of 7kg weaner averaged £36.31 per head, 14p down on a week earlier and £6 down year on year.