UK pig prices - week ended 21 February 2015
In the week ending 21 February, the EU-spec GB SPP was 133.95p per kg, 1.11p less than the previous week.
This was a smaller drop than the last two weeks but has not broken the recent downward trend, putting the SPP over 8p down since the start of the year and 30p down on May 2014. It is worth noting, however, that prices on the continent are starting to turn upwards, bringing the UK and EU price marginally closer together. This could be an early indicator that UK price falls could possibly soon slow down. However, for now, carcase weights averaged marginally more than last week at 83.11kg, remaining well above recorded weights in 2014. This is contributing to continued reports of supply ahead of demand, despite slightly lower throughputs this week, as AHDB/BPEX estimates that year to date slaughterings are running just under 3% ahead of last year.
In the week ending 14 February, the EU-spec GB APP averaged 138.94p per kg. This was down 2.42p on the week, nearly matching the large weekly drop recorded in the SPP for the same week. Nevertheless, the gap between these two price series grew slightly to 3.88p.
The weaner markets, in contrast, showed some positive price movement in the week ending 21 February. 7kg weaners averaged £33.41, up 20p on the week after three weeks of decline. 30kg weaners recorded a more significant increase of £1.61 on the week to £46.03, the highest price this month. While suggesting some positivity in the finished pig market down the line, these markets remain volatile, partly due to variations in the mix of animals traded each week. The general downward trend is reflected by breeders receiving £8-9 a head more a year ago.