UK pig prices - week ended 29 October 2016
The EU-spec SPP continued its upward march in week ended 29 October, reaching 147.11p/kg following an increase of 1.20p.
This price is 20p higher than the same point last year and is comparable to levels last seen in early November 2014. The record period of consecutive week-on-week price rises continues to expand as demand from China remains strong, while UK production is currently tight and the pound weak.
Although estimated slaughterings showed a slight increase of 3% on the previous week, at 176.4 thousand head throughputs remained 3% back on year earlier levels. Slaughtering rates have now been behind 2015 levels for the past four weeks, reinforcing claims of a tight supply situation. Meanwhile, at 83.09kg, average carcase weights showed virtually no week-on-week change. This figure is 0.58kg more than at the equivalent point in 2015.
For week ended 22 October, the EU-spec APP also increased, by 1.23p to stand at 148.53p/kg; in line with December 2014 prices. This movement brought the gap between the APP and the SPP to 2.62p, which is 0.40p wider than the previous week and the largest difference since July this year.
The price of 7kg and 30kg weaners moved in opposing directions during week ended 29 October. 7kg weaners continued to rise in price, climbing £1.09 on the previous week to reach £37.48/head. This is £5.00 more than the same week last year and the highest price for this weight of weaner since October 2014. Conversely, the 30kg weaner price declined from the previous week’s peak, dropping by £1.91 to £48.81/head. However this is still £6.06 more than the same point in 2015. A reportedly thin trade, in conjunction with a different mix of pigs, influenced the price decline rather than any underlying weakening of the market.
Bethan Wilkins, Trainee Analyst
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