UK pig prices - week ended 06 August
The EU spec SPP continued to rise in week ended 06 August, up 2.59p to 133.98p/kg.
This was the second largest weekly increase since the SPP reporting system was launched, and returns the SPP to levels last seen in February 2015. This also means that the SPP is finally above last year’s levels, by 1.4p. The last time weekly price was greater than at the same period a year before was back in May 2014. Tightening supply, strong export demand and rising EU prices are all contributing to the support the UK price is currently receiving. Combined with this, the falling value of sterling against the euro is continuing to increase the attractiveness of domestic pork over its European counterparts.
Estimated slaughterings increased slightly on the previous week, up 2% to 174 thousand head. They were also up 4% on the same period a year earlier. Average carcase weights largely stood on last week’s levels, up 0.01kg to 81.52kg. However, they are still 1.17kg heavier than at the same point a year earlier.
The EU-spec APP also increased in week ended 30 July, by 84p to 133.66p/kg. This reduced the gap between the APP and SPP to 2.27p, which is the lowest since July 2014.
7kg and 30kg weaners both continued to record price increases in week ending 06 August. 7kg weaners increased by 70p to £32.68/head. This was only 52p behind the same point a year earlier, and returns the price to levels last recorded in October 2015. 30kg weaners saw a price increase of 82p to £44.82/head. This was 83p more than the same point a year earlier, and these levels have not been recorded since September 2015.
Vikki Campbell, Senior Analyst
Vikki.Campbell@ahdb.org.uk, 024 7647 8741