UK pig prices - week ended 31 October 2015
In the week ended 31 October the EU-spec SPP increased for the first time since the end of August, by a small margin of 0.19p to 127.11p/kg.
The current quote still remains over 22p down on the figure for the same week in 2014 but the gap between the two figures has narrowed further. Estimated slaughterings were down 3% on the week, at 178,700 head, potentially having an impact on prices. This may have helped to bring a better balance to the market, with demand reportedly steady and the Christmas procurement period fast approaching. The average SPP carcase weight for the week ended 31 October was 82.51kg, recording an increase of 210g. For the second consecutive week, weights were below those recorded in the corresponding week of 2014.
The EU-spec APP fell by a penny to 130.99p/kg in the week ended 24 October, the eighth consecutive week in which the quote decreased. Currently, the price is around 24p behind the figure for the same week in 2014. The gap between the SPP and APP for the same week remains just above the 4p threshold, despite a slightly larger fall in the latter.
Weaner prices for the week ended 31 October recorded diverging trends, with the two categories moving in opposite directions. The 30kg weaner price decreased slightly from the previous week, to £42.75/head. Once again, this took the price to lowest level since November 2008. In contrast, the 7kg weaner price increased by two thirds of a penny to £32.48/head, partly offsetting the reduction of over £1 which occurred last week. Both quotes remain below last year’s level, by £6 and nearly £4 respectively.