UK pig prices - week ended 9 May
Falling pig prices returned in the week ended 9 May, with the EU-spec SPP down by 0.45p to 131.40p/kg, the lowest level so far in 2015.
Falling pig prices returned in the week ended 9 May, with the EU-spec SPP down by 0.45p to 131.40p/kg, the lowest level so far in 2015. This increased the difference compared to the same week in 2014 to over 32p. This fall comes despite a 5% drop in the estimated number of pigs slaughtered compared to the previous week, as demand is currently thought to be slightly behind supply. Estimated slaughterings were down at 156,100 head; although this was a shorter week due to the bank holiday, numbers were also 3% below year earlier levels. Carcase weights were virtually unmoved from the previous week to 81.86kg, reducing the difference compared to weights in 2014 to just 800g, just the second time in 2015 that this difference has fallen below 1kg. The average probe measurement remained at 11.1mm, which is the lowest level seen so far in 2015.
The EU-spec GB APP continued to increase in the week ended 2 May, up by 0.61p to 136.51p/kg, the largest increase since April 2014. As prices in the equivalent week in 2014 rose more modestly, this led the year-on-year difference in prices to fall to 29p. The difference between the APP and the SPP for the same week continued to widen, reaching a record 4.66p/kg.
Weaner prices continued to follow the movement seen in the SPP, with prices for both weights falling in the latest week. In the week ended 9 May, both 7kg and 30 kg weaners were down, at £33.30 and £44.18 respectively. This left 7kg weaners down just 5p on the week but £7 down on levels seen in May 2014. Meanwhile, 30kg weaner prices were 24p lower on the week and over £11 down on year earlier levels.