UK pig prices - week ended 18 June
The EU-spec SPP continued its positive trend in the week ending 18 June, recording an increase of 1.13p to 121.53p/kg.
This is now the eleventh consecutive week of growth, and returns the SPP to levels last seen at the end of last year. However, the SPP is still almost 11p behind the price at this week a year ago. The increasing EU pig price is continuing to support the UK price, and higher value Chinese exports show little sign of slowing, again assisting in buoying the UK price. Estimated slaughterings largely stood on from the previous week, only recording a 0.4% increase to 166.5 thousand head. They also recorded a 5% decrease in slaughtering volumes from this week a year ago, supporting anecdotal evidence that supplies are tightening. This was coupled with another fall in the average carcase weight, down 0.17kg to 81.66kg, on the week earlier.
In the week ending 11 June, the EU-spec APP recorded further increases of 1.35p to 124.01p/kg, and is the highest price since the beginning of the year. This increase has resulted in the gap between the APP and the SPP remaining at 3.6p.
Both 30kg and 7kg weaners recorded price increases. 30kg weaners increased a modest £0.05 to £40.45 in week ending 18 June, while 7kg weaners experienced a £0.24 increase to £30.09. This is the first time 7kg weaners have breached the £30 mark since the end of January, and while increasing prices may suggest a stronger confidence in the longer-term finishing market, it is still somewhat tentative.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741