UK pig prices - week ended 28 May 2016
Pig prices continued to increase in week ended 28 May, with the EU-spec SPP up 1.22p to 117.49p/kg.
This is the eighth consecutive week of price increases, and the largest single weekly price increase since September 2013. Prices are now over 5p higher than their low point in mid-March, although they are still over 13p behind this point last year. This price increase is continuing to be bolstered by the strengthening EU market, and growing demand from the export market – China in particular. There are also indications that supplies are beginning to tighten, with estimated slaughterings down 4% on the week earlier, to 171,000 head. However, levels are still 3% higher than a year earlier. Carcase weights also continue to decline, with the average carcase weight for week ended 28 May at 82.27kg, the lowest level this year to date.
The EU-spec APP also recorded an increase in week ended 21 May, by 0.80p to 119.85p/kg. This is the highest price since mid-January and maintained the gap between the APP and SPP at around 3.5p.
The GB weaner market saw only modest fluctuations in week ended 28 May, with 30kg weaners recording a modest increase of £0.12 to £39.34 while 7kg weaners saw the price slide slightly by £0.18 to £29.09. The 30kg price is the highest since the beginning of January, although just under £4 less than this point last year. The 7kg price has been fluctuating modestly around £29 for the past 4 weeks, and would suggest that there is still uncertainty in the longer-term finishing market.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741