UK pig prices - week ended 21 May 2016
The recent recovery in GB pig prices continued in week ended 21 May, with a rise in the EU-spec SPP of 0.67p to 116.27p/kg.
The price has now increased for seven straight weeks, adding nearly 4p over that time, and is at its highest level since mid-January. While this will come as a welcome relief for producers, it is worth remembering that the current price is still around 15p lower than a year before. The increase is being driven by a combination of slightly lower supplies, partly due to carcase weights reaching their lowest level of the year to date, robust demand (notably from export markets) and a strengthening EU market.
Having been slower to pick up than the SPP, the EU-spec APP accelerated in week ended 14 May, rising by 1.34p to 119.05p/kg. This is comfortably the biggest weekly rise recorded since the series was introduced in April 2014. As a result, the gap between APP and SPP widened back to around 3.5p, having narrowed over the previous month.
The GB weaner market remains on the firm side of stability, with the 7kg average virtually unchanged for week ended 21 May, at £29.27 per head (down 6p on the week before). The 30kg price was up £2.26 at £39.22, reversing falls in the two previous weeks and taking the price to its highest level since early January. Although fluctuating somewhat from week to week, both price series have been on an upward trend of late, though, as with finished pig prices, they remain well below year earlier levels.
Stephen Howarth, Market Specialist Manager
Stephen.email@example.com, 024 7647 8856