UK pig prices - week ended 26 November 2016
The EU-spec SPP rose yet again for week ended 26 November, climbing 0.58p to reach 150.74p/kg.
This is the highest the SPP has been since October 2014 and stands almost 25p more than during the same week last year. The weakness of the pound continues to buoy demand from export markets, which, when coupled to a tight supply situation, has enabled pig prices to carry on rising over what is now a record period of 34 weeks.
Estimated slaughterings remained virtually unchanged on the previous week and at 182 thousand head were also in line with year earlier levels. However, this is unlikely to represent supplies levelling with last year, as throughput was unusually low during the equivalent week in 2015. Meanwhile, average carcase weights declined by 0.47kg on the week to 83.31kg. This is 1.5kg heavier than last year, when weights had shown more of a seasonal decline than has been apparent this year.
An increase of 1.29p was also seen in the EU-spec APP for week ended 19 November, taking the figure to 152.75p/kg. At almost 23p more than the equivalent point in 2015, this is the highest price since the start of November 2014. This increase raised the gap between the APP and the SPP by almost 1p from the previous week’s low, to 2.59p/kg.
Weaner prices continued to show diverging trends for week ended 24 November. 30kg weaners fell in price by 69p to stand at £53.01/head, while 7kg weaners showed a modest 11p price rise to £37.85/head. However, both 30kg and 7kg weaner prices remained at a premium compared to 2015 levels, standing above last year’s figure by £12 and £6 respectively.
Bethan Wilkins, Trainee Analyst
firstname.lastname@example.org, 024 7647 8757