UK pig prices - week ended 8 August 2015
For the third time in four weeks, the GB SPP eased slightly in week ended 8 August, with the EU-spec price standing at 132.58p/kg.
This was its lowest level since mid-June, although the fall during the week was less than half a penny. Although the holiday season may have meant some easing of demand, the market remains balanced, with the price having been no more than a penny and a half from its current level since February. Nevertheless, prices remain over 26p lower than a year before, even though the gap continues to narrow. One of the reasons for low prices is the more plentiful supplies so far this year, although there may be signs of some tightening at present. Slaughterings were estimated to have fallen for a second straight week, to 169,600 head, although this is still higher than at the same point last year. Carcase weights also remain low by recent standards and similar to a year earlier, averaging 80.35kg in the latest week.
In week ended 1 August, the EU-spec APP lost the ground gained in the previous two weeks, falling by a fifth of a penny to 137.15p/kg. This was around 25p lower than a year earlier. As the fall in the APP was slightly smaller than that for the SPP in the same week, the gap between the two prices increased slightly to 4.14p.
The weaner market also remains well balanced, with prices for both 7kg and 30kg animals rising slightly in week ended 8 August. At £33.20 per head, 7kg weaners sold for 33p more than the previous week, on average, but were still more than £7 cheaper than a year before. The rise for 30kg pigs was even smaller but, at a penny under £44 per head, the price was £8 down on the year.