UK pig prices - week ended 14 May 2016
The GB pig price continued to recover in week ending 14 May, with the EU-spec SPP up 0.9p on the week, to 115.60p/kg.
This is the sixth consecutive week the price has increased and the SPP is now 3.5p greater than its lowest point, recorded in March. Strengthening EU prices and strong demand from China have both helped to support the UK price in its upwards trend.
Estimated slaughterings continued to rise and were up 3% on a week earlier and 4% on a year earlier, at 174,000 head. However, some processors had a shorter kill week the week before, due to the Bank Holiday. Average carcase weights continued to slide slightly, down 0.16kg to 82.61kg on the week. Nevertheless, they are still almost a kilo heavier than this time last year.
The EU-spec APP also increased in the week ending 7 May, up 0.45p to 117.71p/kg. The gap between the APP and SPP has contracted further from the week earlier to just over 3p, which is almost 1.5p less than the same period last year and the smallest gap since January 2015.
The fluctuations in the weaner markets continued, with 30kg weaners recording a price fall of £1.70 to £36.96 and 7kg weaners realising a price increase of a modest £0.32 to £29.33 in week ending 14 May. This may infer that there is increasing confidence in the longer-term market, while there are still levels of uncertainty for shorter-term finishers.
Vikki Campbell, Senior Analyst
vikki.Campbell@ahdb.org.uk, 024 7647 8741