UK pig prices - week ended 14 February 2015
The EU-spec GB SPP in the week ending 14 February fell again, by 2.66p, to 135.06p per kg dw the largest weekly decline since the series was introduced in April last year.
The EU-spec GB SPP in the week ending 14 February fell again, by 2.66p, to 135.06p per kg dw, the largest weekly decline since the series was introduced in April last year. There have been some significant reductions in the prices reported this week and we have contacted the relevant contributors in order to confirm that their submissions are accurate. Market conditions have not been favourable, mainly as a result of the poor demand, although supply was still running well ahead of last year. Carcase weights were unchanged on the previous week averaging 82.81 kg, while the average probe measurement fell slightly to 11.2mm.
Estimated slaughterings in GB amounted to 178,400 head and, while they were 4,100 head lower than in the previous week, they were still were as much as 16,000, or 10%, higher than a year earlier.
For the week ended 7 February, the EU-spec GB APP averaged 141.36p per kg. At 1.97p down on the week, this was also the largest weekly change since the price series began in April 2014 and also reflects the weakening market. There was even a narrowing of the gap with the SPP for the same week to 3.64p.
On a positive note, there are signs that the sow market on the continent is picking up and last week the German price increased 4 cents per kg helped by some recovery in the clean pig market. However, UK sow meat exporters now have to contend with an appreciating pound.
For the week ending 14 February, the weaner market followed finished pig prices developments. 7kg weaners averaged £33.21 a head. This was 36p down on the week and remaining almost £8 down on the year. 30kg weaners, after a partial recovery the previous week, dropped again, by £1.50, to an average of £44.42 a head, with the differential for the producer edging towards £11 less than a year ago.
So far in 2015 the price of 7 kg weaners has fallen by £1.45 with small reductions in most weeks. In contrast the market for 30 kg weaners has been somewhat more volatile. Prices increased initially but have since fallen back.