UK pig prices - week ended 31 January 2015
The EU-spec GB SPP in the week ending 31 January was 139.06p per kg.
This is 0.84p back on the week, despite a lower throughput. This has bought estimated slaughterings back to a similar level to last year for this week, after reports of ample supplies in recent weeks. Carcase conditions, which also contribute to production volumes, remained consistent on the week, with carcase weights and probe measurements not changing from 82.9kg and 11.3mm respectively. The weakening euro against the pound is likely to heighten the differential between prices on the two markets, regardless of early indications of some reversal in the rapid downward price trend on the continent. This will mean that EU prices continue to exert some downward pressure on the UK market.
For the week ended 24 January the EU-spec GB APP averaged 143.26p per kg, back 0.80p on the week. Thus, the gap with SPP in the same week was amplified to 3.36p.
The weaner market continued to be thin in the week ended 31 January, returning to its downward trend. 7 kg weaners were priced at an average of £33.79 a head, back 36p on the week. This cancels out last week’s slight rise and brings the price back to the lowest recorded since the series began in mid-2013 and £8 behind last year. The outlook for finished pig prices remains under pressure, despite the bearish feed market outlook. 30kg weaners also followed this trend, down £2.50 to £44.60 a head, the second largest weekly drop in four months. While this price is up 22p from the lowest point of 2015, it represented almost £11 less for the producer than a year ago; the January average stands £10 back on the year, demonstrating the volatility of this market.