UK pig prices - week ended 13 February 2016
The EU-spec SPP fell slightly in the week ending 13 February by 0.53p to 112.89 p/kg.
Whilst this is the 13th consecutive week of decline, it is at a rate that is starting to slow slightly. Continued reports of heavier pigs meant that supply was still in excess of demand, although reports stated that processors managed a largely hitch-free week and slaughtered planned numbers.
The average carcase weight increased very slightly by 60g to 84.28kg during the same week. Average carcase weights have stayed in excess of 84kg for 5 out of the last 6 weeks and processors have anecdotally been struggling to stay on top of the heavier carcases being presented. The return to more normal weather for the time of year does not seem to have put a brake on growing conditions and weights have not yet returned to more normal levels. Estimated slaughterings rose from the previous week – up 1% to 183,900 head, a 6% increase on the same period a year earlier.
The EU-spec APP declined 0.92p to 117.31p/kg for the week ending 6 February, over 24p behind the same week last year. The gap between the APP and SPP grew slightly to just under 4p, which may mean that there were more premium pigs in the mix that week, as the SPP saw a sharper fall in the same week.
Prices in the weaner market diverged in the week ending 13 February, with 30kg weaners seeing an upturn in price of £1.34 to £37.20 per head, whilst 7kg weaners saw a slight decrease in price of 40p to £29.17. This is likely to be due to the mix of animals involved, with both prices remaining well below their levels of a year earlier. This may infer that there is still little confidence about the direction of the finished market.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8622