UK pig prices - week ended 19 November 2016
The EU-spec SPP increased once again in week ended 19 November by 0.30p to 150.16p/kg. This is the highest the SPP has reached in over two years and nearly 24p ahead of the same week last year. This is the 33rd consecutive week that this price has recorded an increase, which extends the record trend, although this represents the smallest weekly rise since April.
Tight supplies coupled with strong demand from export markets due to the weaker sterling, continues to pull prices upwards. However, some recovery in the value of the pound of late may have contributed to a slowdown in the rate of price increases. Reiterating the tighter supply situation, estimated slaughterings in the week were down 5% on the year at 182.9 thousand head but little changed from the week before. Average carcase weights increased by 0.43kg on the week and were 1.64kg heavier than the same point last year at 83.78kg.
The EU-spec APP also continued the upward trend in week ended 12 November, rising by 0.52p to 151.46p/kg. This is the highest price for this series since the start of November 2014 and over 21p up on the same point in 2015. The gap between the SPP and APP has now closed to under 2p, at 1.6p/kg, the smallest gap since June 2014.
Diverging trends were recorded between the weaner categories in week ended 19 November. While 30kg weaners fell by 29p to £53.70 per head, the 7kg weaner price gained 97p at £37.74 per head. Nonetheless, both 30kg and 7kg weaner prices remain above the same point last year, by £12 and £7per head respectively.
Millie Askew, Analyst
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