UK pig prices - week ended 11 April 2015
Following the relative stability seen in recent weeks the finished pig market returned to declines in the week ended 11 April, with the EU-spec GB SPP falling to 132.19p/kg.
This drop pushed the SPP to nearly 31p lower than the level seen last year and follows four weeks of prices only seeing marginal falls. This latest fall came as there was a lower estimated levels of slaughterings due to the shorter week following the Easter bank holiday. Estimated slaughtering increased 2% compared to the previous week, which was also affected by Easter closures, at 161,300 head and was 4% higher than the week following Easter in 2014, which was later in the month than this year. Carcase weights rebounded from last week’s lower levels, reaching 82.41kg, over a kilo heavier than the levels seen at the same time last year. Despite increased slaughter weights, the average probe measurement remained stable at 11.2mm, showing the pigs put the weight on as lean meat rather than fat.
The EU-spec GB APP started falling again in the week ended 4 April. It was down by over two thirds of a penny at 136.10p/kg. This reduced the difference between the APP and SPP back down to 3.68p/kg. However, the gap remains larger than this time last year when the prices were first introduced.
The return seen to falling deadweight pig prices has also been seen in weaner prices. Average prices for both 7kg and 30kg weaners fell in the week ended 11 April, to £33.29 and £44.03 per head respectively. This has further increased the difference in price being paid for weaners between now and the same period last year, with prices being down £7 and £12 respectively.