UK pig prices - week ended 30 July 2016
The EU spec SPP rose once again in week ended 30 July, up 1.11p to 131.39p/kg.
While this increase was less than the previous week, it was still a solid rise, and returns the SPP to levels last recorded in September 2015. The current price stands at just over 1.6p less than at the same point a year earlier. With the EU price continuing to increase, coupled with exports to China showing no signs of drawing back, the SPP remains supported. In addition, the weakening of sterling following the Brexit vote continues to increase the attractiveness of domestic pork over its European counterparts.
Estimated slaughterings remained largely stable on the previous week, at 170,500 head. They were modestly up on the same period a year earlier, by 1.4%. Average carcase weights were also largely the same as the previous week, up 0.09kg to 81.51kg, although they were still 1.19kg heavier than at the same point a year earlier.
The EU-spec APP also increased in week ended 23 July, by 2.12p to 132.82p/kg. This reduced the gap between the APP and SPP to 2.54p, which is the lowest since September 2014.
Both 7kg and 30kg weaners continued recording modest price increases, with 30kg weaners increasing by 85p to £44.00/head and the 7kg weaner price growing by 32p to £31.98/head. This now puts 30kg weaners at 15p more than at the same point a year earlier and is the first time that a positive year-on-year difference has been recorded since August 2014. 7kg weaners remain 89p behind the same week in 2015, and returns it to levels last recorded in October 2015.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741