UK pig prices - week ended 12 November 2016
For week ended 12 November, the EU-spec SPP continued to climb, by 0.98p to reach 149.86p/kg.
This price is over 23p more than during the same week last year, and 3p more than the equivalent week in 2014. Supplies continue to be tight which, coupled to the strong Chinese export market and weak pound, has supported this record period of 32 consecutive week-on-week price rises.
Reflecting the tight supply situation, estimated slaughterings were down 4% on the year during this period, at 183.5 thousand head. However, this actually represented a 4% rise in throughputs compared to the previous week, perhaps a first sign of the increased numbers expected in the run up to Christmas. Meanwhile, average carcase weights remained virtually static on the week, standing 0.73kg more than last year at 83.35kg.
The EU-spec APP also continued to rise during week ended 5 November. Increasing by 1.65p on the week, the figure stood less than 1p shy of the equivalent 2014 price at 150.94p/kg. This caused the gap between the APP and the SPP to narrow by 0.12p, to 2.06p/kg.
Both categories of weaner showed price declines during week ended 12 November. The 30kg weaner price dropped by 42p to £53.99. Nonetheless, this is still nearly £12 more than at the same point last year, and likely reflects a degree of market adjustment following the exceptional price rise of the previous week. 7kg weaners declined in price by 37p during the week to stand at £36.77. This also remains above last year’s figure by £5.25, though demand may be slowing for these pigs that will not be finished until the traditionally more difficult post-Christmas period.
Bethan Wilkins, Trainee Analyst
firstname.lastname@example.org, 024 7647 8757