UK pig prices - week ended 24 January 2015
For the week ended 24 January, the EU-spec GB SPP averaged 139.90p, a fall of 0.92p on the week, the fifteenth weekly drop in sixteen weeks.
Prices have now fallen by 24p since last June, when the price decline started in earnest, with price reductions of 1p and more in many of these weeks. Carcase weights slipped to average just below 83kg after two record weeks, whilst the average probe measurement of 11.3mm was maintained. Throughputs were estimated to be similar to the previous week, at 175,000 head, up almost 7% on the year. Given the year on year increase in supply and reported poor retail demand for fresh pork, in particular, the market is still somewhat out of balance. Additionally, some industry reports are suggesting that given an ample supply, prices of spot pigs have fallen this week as well.
The EU-spec GB APP for the week ended 17 January averaged 144.06p. This equates to a 0.44p decrease on the previous week with the gap between the APP and SPP for the same week widening to 3.24p.
In the week ended 24 January, weaner prices increased slightly on the week but remain lower than a fortnight ago, suggesting that the downward trend evident since last July has not ended. As such, 7kg weaners averaged £34.15 a head, up 35p on the week although with breeders receiving almost £8 less than a year earlier. 30kg weaners averaged £47.10, an increase of 98p on the week but over £9 down on the year with throughputs well down last week.