UK pig prices - week ended 8 October 2016
The EU-spec SPP rose yet again in the week ended 8 October, climbing by 1.67p to reach 143.90p/kg.
This price is over 16p more than at the same point last year and the SPP has not been at this level since December 2014. It is now more than six months since the SPP recorded in a weekly fall. Chinese demand and strong EU prices continue to support the rising UK pig price, aided by the currently falling value of the pound.
Estimated slaughterings increased slightly compared to the previous week, rising by just under 1% to 175.7 thousand head. However, this was still 6% lower than the year earlier level, suggesting supplies on the market remain relatively tight, compared to last year. The average carcase weight has been virtually unchanged over the past month, standing at 82.46kg in the latest week. This was marginally higher than the same period a year earlier, by 0.27kg.
In the week ended 1 October, the EU-Spec APP also rose, by 1.56p to 144.65p/kg, which brings it in line with January 2015 levels. The gap between the APP and the SPP for the same week consequentially widened, to 2.42p.
30kg weaners continued to increase in price during the week ended 8 October, rising by 47p to £49.83/head. This is a substantial £6.15 higher than the price at the same point last year, and on a par with levels seen in autumn 2014. In contrast, 7kg weaner prices stagnated during the same period, showing a marginal decrease in price of 3p to £36.40. This is the first week the 7kg weaner price has not increased since early July, though the price still remains £4.24 above last year’s levels. However, weaner prices do vary from week to week as the mix of pigs traded changes, so this is likely to reflect a degree of self-adjustment in the market following the 88p price rise the previous week.
Bethan Wilkins, Trainee Analyst
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