UK pig prices - week ended 18 October 2014
The EU-spec GB SPP fell to 152.35p per kg for the week ended 18 October, down by almost 2p for the second week in a row.
The EU-spec GB SPP fell to 152.35p per kg for the week ended 18 October, down by almost 2p for the second week in a row. Please note that one plant is missing from the SPP sample this week. The normal seasonal increase in finished pig prices is clearly not yet evident and actually, based on comparisons with the DAPP, this is the lowest price since September 2012. Prices remain somewhat volatile as contracts are renegotiated following the end of the DAPP and the true market situation may not be completely clear for another couple of weeks. AHDB/BPEX estimated slaughterings showed a 3% reduction in the week ended 18 October, to 162,100 head. Carcase weights in the latest week edged up to 82.22kg, a marginal increase on the week but the largest weekly average on record. This is reported to be partly a result of more pigs than normal being rolled in recent weeks as supply is outstripping demand.
The EU-spec GB APP for the week ended 11 October fell back by 0.89 to 157.55p per kg. This was almost 4p higher than the SPP during the same week, the largest gap since the two series began back in April.
The 30kg weaner price rose in the latest week ended 18 October, to £50.43 per head. This was a week-on-week change of £1.46. Weaner prices usually start to rise during this time of year. However, it is questionable whether the rise will be sustained given the weak finished pig prices. Despite the weekly increase, the average 30kg weaner price remained £4 below last year’s level, indicating some weakness in this market. In contrast, the 7kg weaner prices edged up by just 8p in the latest week, to £37.66 per head. This was also around £4 lower than the same week in 2013.