UK pig prices - week ended 11 June 2016
The EU-spec SPP increased once again in week ended 11 June, by 0.97p to 120.40p/kg.
This is the first time the SPP has been north of 120p since the beginning of the year, although it is still 11.5p behind the same point a year earlier. The continued strong export demand from China and the buoyant EU price, with supplies tightening but demand improving, are providing support to the UK price. This may also have been helped by the European football championships and improving holiday trade. Estimated GB slaughterings in the week ended 11 June were up 3% on the previous holiday week but down, by 1%, for the second consecutive week on the same week last year. The average carcase weight decreased by 0.28 kg to 81.83 kg, which would support evidence that supplies are starting to tighten.
In week ended 4 June, the EU-spec APP recorded a rise of 1.55p, the tenth consecutive week of increase, to 122.66p/kg. As the SPP increased by a larger amount in the same week, the gap narrowed to 3.23p.
The GB weaner market also recorded increases in week ended 11 June. 30kg weaners recorded a rise of 98p to £40.40, the highest quote since Christmas week while throughputs were lower. 7kg weaners showed a more modest increase of 5p to £29.85, with throughputs generally more. Likewise, the current quote is the highest since the end of January. As prices were falling in the same week last year the gap has narrowed to £4.12 for 30 kg weaners and £2.75 for 7 kg weaners.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741