UK pig prices - week ended 5 November 2016
Growth was seen again in the EU-spec SPP during week ended 5 November. Rising by 1.77p on the previous week, the price now stands at 148.88p/kg.
This is almost 23p more than the same point a year earlier and is now also fractionally more than the equivalent 2014 figure. Week-on-week rises to UK pig prices have been able to persist as supplies are tightening, sterling is weak, and demand from China continues to be good.
Supporting reports of tightening supplies, estimated slaughterings were back 7% during the week on last year’s figures. This followed a marginal decline in throughputs, compared to the previous week. Average carcase weights showed a slight increase during this period, reaching 83.37kg which is 0.74kg more than the same point last year.
A rise, of 0.76p, was also seen in the EU-spec APP for week ended 29 October. At 149.29p/kg, this brought the APP in line with levels last seen at the end of November 2014. Consequentially, the gap between the APP and the SPP narrowed by 0.44p to 2.18p/kg.
Weaner prices moved in opposite directions to the previous week, for week ended 5 November. Following from last week’s price decline, the 30kg weaner price showed a very significant increase of £5.60 to stand at £54.41/head. This is the largest weekly price increase on record, bringing the figure to a substantial £12 more than at the same point last year, and in line with levels from August 2014. Reportedly, the considerable price movement is partly attributable to more premium pigs in the mix this week. Increased competition for the limited number of available 30kg weaners has also been described.
Meanwhile, the 7kg weaner price showed a price decline of 34p, to settle at £37.14/head. However, this is still £5.69 more than at the same point last year. Differences in the mix of pigs coming forward this week relative to last are likely responsible for the movement.
Bethan Wilkins, Trainee Analyst
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