UK pig prices - week ended 16 July
The EU-spec SPP rose once again in week ended 16 July, by 1.57p, to 128.14p/kg.
While the increase wasn't as large as the previous week, it still represents the fourth largest weekly increase this year to date. The current quote returns the price to levels last seen in October 2015, and now stands at less than 5p behind the same point a year earlier. The ongoing strong demand from China, increasing EU prices and a tightening UK supply have all contributed to supporting the UK price, and these factors show no sign of desisting at present.
Estimated slaughterings fell by 5% on the previous week, to 162 thousand head, and were 2% back on the same week a year earlier, suggesting that the tightening of supplies is still evident. The average carcase weight increased slightly to 81.90kg, an increase of 0.23kg on the previous week, and 1.53kg heavier than the same period a year earlier.
The EU-spec APP increased further in week ended 9 July, by 2.70p to 129.47p/kg. However, the gap between the APP and SPP reduced further, to 2.9p. This was the first time the difference had been below 3p since October 2014.
7kg weaners recorded a slight increase in week ended 16 July, by 27p to £31.33 per head. However, 30kg weaners largely stood on, with a very modest decrease of 7p, to £42.75 per head. These price movements return 7kg weaners to levels recorded at the beginning of the year, while 30kg prices are fluctuating around November 2015 values.
Vikki Campbell, Senior Analyst
Vikki.Campbell@ahdb.org.uk, 024 7647 8741