UK pig prices - week ended 23 July
The EU spec SPP continued to rise in week ended 23 July, up 2.14p to 130.28p/kg.
This was the second largest weekly increase since the SPP reporting system was introduced, and returns the SPP to north of 130p/kg. This was last seen in September 2015, and the current quote stands just under 3p less than at this point last year. The driving factors that have been dominant for the past three months remain true, namely strong Chinese demand, booming EU prices and tightening UK supplies. In addition, the weakening pound has increased the attractiveness of UK pork for domestic buyers, which will further support the price.
Estimated slaughterings increased slightly, by 5% to 170 thousand head. They were largely stable on the year earlier, only 0.4% behind. Average carcase weights were down 0.48kg on the week earlier, to 81.42kg. However, they are still 1.25kg up on the same period last year.
The EU-spec APP also increased in week ended 16 July, by 1.23p to 130.70p/kg. The gap between the APP and SPP continued to fall, to 2.56p. This is the lowest the gap has been since September 2014.
Both 7kg and 30kg weaners recorded a modest price increase in week ended 23 July. 7kg weaners increased 33p to £31.66/head, returning it to levels last recorded in November 2015. However, it is still £1.45 behind the price recorded at the same point last year. 30kg weaner prices rose by 40p to £43.15/head, £2.30 behind the same point in 2015, returning it to October 2015 levels.
Vikki Campbell, Senior Analyst
Vikki.Campbell@ahdb.org.uk, 024 7647 8741