UK pig prices - week ended 17 January 2015
The EU-spec GB SPP for the week ended 17 January averaged 140.82p per kg. This is a slight fall of 0.88p on the week and the price has already dropped over 3p since Christmas.
Declining prices are normal at this time of year as consumer demand is subdued, while pigs are in plentiful supply after the holiday period. Both carcase weights and probe measurements remained the same as last week, indicating a good number of pigs were still meeting specification despite carcase weights averaging over 83kg. A throughput estimated at 174,300 head for the week was an increase of over 1% on the year but a significant decrease on the previous week, as processing operations have started to return to normal with no lingering festive backlog. Nevertheless, cumulative slaughterings for the first three weeks of the year are estimated to be up 9% on this stage last year.
The EU-spec GB APP was 144.50p per kg for the week ended 10 January. The week-on-week decrease of almost a penny narrowed the price gap with the GB SPP for the same week to just 2.8p, the smallest difference since September.
For the week ended 17 January, 30kg weaners averaged £46.12 a head, down £1.73 on the week. This implies that trade for the spring remains uncertain, particularly as the pound strengthens against the euro, possibly giving rise to an increased price gap between EU and UK pigs. 7kg weaners also fell back on the week by 58p to £33.80 a head. This gives the breeder almost £10 less than in the same week last year, the same as the loss for 30kg producers, as the market continues to progress cautiously in light of falling finished prices.