UK pig prices - week ended 27 August 2016
The EU-spec SPP rose once again in week ended 27 August, up 1.29p to 137.30p/kg.
This takes it back to levels last recorded in February 2015, and the current quote now stands at just under 5p more than at the same point a year earlier. Sterling remains weak against the euro and dollar, helping to boost export demand and subdue imports. This has put a greater demand on tightening supplies, which has continued to support the price.
Estimated slaughterings fell slightly on the week earlier, by 1% to 181 thousand head, which supports anecdotal reports of a slight tightening of supplies. However, estimated slaughterings were up modestly, by 2%, on the same period a year earlier. Average carcase weights also fell back a little on the previous week, by 0.23kg to 81.98kg, which returned it to under the 82kg threshold that had been exceeded the week earlier.
In week ended 20 August, the EU-spec APP also increased, by 0.95p to 138.24p/kg. This is the highest weekly price since February 2015, and brings the current quote to 1.63p higher than at the same point a year earlier. The gap between the APP and SPP decreased modestly, to 2.23p.
Both categories of weaners recorded price increases, with 30kg weaners increasing by £2.36 to £47.88/head. This was the largest weekly increase since January 2015 and returns the 30kg weaner price to levels last recorded in December 2014. 7kg weaners posted a more modest price increase of £0.76, to end at £33.91/head. This returns the current quote to January 2015 levels, and is £1.78 more than at the same point a year earlier.
Vikki Campbell, Senior Analyst
Vikki.Campbell@ahdb.org.uk, 024 7647 8741