UK pig prices - week ended 2 July 2016
The EU-spec SPP climbed for the 13th consecutive week in week ending 2 July, by over 1.5p to 123.77/kg.
The current quote takes prices back up to levels last seen in late December 2015. Likewise, the SPP is narrowing in on the same point last year, standing now at 9p lower. Although prices have risen once again, helped by strong EU prices, the structure of the UK pig market means that the full effect of the recent currency movements are yet to be reflected in the SPP.
Estimated slaughterings rose by 2% on the previous week to 165,600 head. Nonetheless, they were 6% down on the same point last year, reiterating the point that demand is somewhat ahead of supply once again. The average carcase weight increased slightly on the week by 0.19kg to 81.73kg, which is 1.42kg heavier than the same point last year.
The EU-spec APP rose once again in week ended 25 June, albeit by a lesser amount than previous weeks, by 0.61p 125.62p/kg. The gap between the SPP and the APP remains at around 3.5p as both price series increased at a similar rate in week ended 25 June.
Diverging price trends were recorded for the two weaner categories in week ended 2 July. 30kg weaners recorded an increase of 86p at £41.28 per head, the highest price since mid-December. Nonetheless, 7kg weaners recorded a slight decrease on the week of 30p at £30.18/head but this is still the second highest price (recorded since the start of the year. Both 7kg and 30kg weaners remain below the level recorded last year, by between £2 and £3 per head.
Millie Askew, Analyst
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