UK pig prices - week ended 22 October 2016
The EU-Spec SPP continued rising during the week ended 22 October, climbing by 0.83p to reach 145.91p/kg.
This is almost 19p more than the same period in 2015 and in line with prices last seen during November 2014. This record, 29-week period of consecutive week-on-week price rises continues to be facilitated by the weak pound, tightening supplies, and strong demand for pork from China.
Estimated slaughterings during the period backed-up claims of tightening supplies, with throughputs declining by 2% on the previous week to 171,000 head. This figure also represents a significant 9% decline on levels from the same point last year. Average carcase weights increased by 0.54kg on the previous week, reaching 83.12kg, which is 0.82kg more than during the same week last year.
For week ended 15 October, the EU-Spec APP also increased by 0.81p to stand at 147.30p/kg. This price level is comparable with those last seen in December 2014. During this period, the gap between the APP and the SPP narrowed by 0.37p to 2.22p/kg.
In contrast to the previous week, price increases were seen for both weaner categories during week ended 22 October. For 30kg weaners, a 95p rise was recorded, taking the price to £50.72/head. This is a substantial £7.69 more than the year-earlier figure, representing the largest annual increase for an individual week since May 2014. This is also the first time the 30kg weaner price has been north of £50/head since November 2014. The 7kg weaner price, meanwhile, showed only a marginal 2p rise during the week to sit at £36.39/head. Nonetheless, this is still £4.60 more than the level a year earlier- the largest positive difference in the 7kg price series, which began in July 2013.
Bethan Wilkins, Trainee Analyst
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