UK pig prices - week ended 11 July 2015
UK finished pig prices resumed their increase in the week ended 11 July, following the slight fall seen in the previous week. The EU-spec SPP was up by over half a penny on the week at 133.16p/kg as supplies tightened slightly, while good weather of late has encouraged demand.
This left the price 29p lower than 2014 levels, with the gap continuing to fall. Supplies were down 2% on the previous week but production last week was higher than normal due to plant closures two weeks ago and slaughterings were up 6% compared to the same week last year. Carcase weights increased very marginally from the level last week, to 80.34kg. However, these weights remain low compared to the rest of the year so far, potentially due to the hot weather limiting growth. This means carcase weights are now only slightly above levels seen last year, which will have the effect of reducing supplies relative to recent weeks. The average probe measurement was stable at 11.1mm.
The APP followed the trend in the SPP in the week ended 4 July, falling by a third of a penny on the week. The EU-spec APP was at 136.96p/kg, leaving it over 27p lower than year earlier levels. The difference between the APP and the SPP fell to 4.3p, the smallest gap since early May.
A mixed picture was seen for the price of weaners in the past week, with 7kg weaners falling almost 30p to £32.49 per head, while 30kg weaners were up by over £1.50 at £45.03. Both prices continue to track well below 2014 levels, with 30kg weaners down by £10, while 7kg weaners were down by over £7.50 per head.