UK pig prices - week ended 7 February 2015
The EU-spec GB SPP in the week ending 7 February fell again and by a more marked amount than in the previous week to average 137.72p per kg.
This was 1.34p lower than the previous week with the marked rise in slaughterings contributing to this developments as well as poor demand on both the fresh pork and bacon markets. Estimated slaughterings in GB were 5% or 9,100 head more than in the previous week and as much as 9% more than a year earlier. In the first six weeks of 2015 estimated slaughterings were 7% higher than a year earlier so contributing to the much weaker market so far this year. The ongoing weak Euro and low pig prices on the continent continue to be a concern to the British pig sector. Carcase weights were again virtually unchanged last week and the probe measurement was also stable.
In the week ended 31 January the EU-spec GB APP, at 143.33p per kg, was actually higher by 0.07p on the previous week. As a result, the gap with the SPP in the same week widened further to 4.27p.
The weaner market showed contrasting trends in the week ended 7 February. The price of 7 kg weaners averaged £33.57 a head, back 22p on the week with numbers up slightly. Thus the price represents a new low since the series began in mid-2013 and was almost £8 behind last year. The price of 30kg weaners recovered by £1.32 to £45.92 after the sharp fall of last week with throughputs well down for some suppliers. While this price was over £10 less than in the same week last year it was only 40p down on the same week in 2013.