UK pig prices - week ended 17 September
The EU-spec SPP rose once again in week ended 17 September, up 0.49p to 140.38p/kg.
This is the first time the SPP has been north of 140p/kg since January 2015, and the current quote now stands at 10p more than at the same point last year. Sterling has remained weak against the euro and dollar, helping exports and the European price has started to rise slowly again, following a small period of stagnation. Both of these factors are continuing to support the UK price.
Estimated slaughterings were back slightly from the previous week, by 2% to 167.6 thousand head. They were also back 8% on the same period a year earlier. This movement would support evidence of a tightening of supplies in the market. The average carcase weight was up on the previous week, by 0.32kg to 82.61kg, and remains ahead of weights recorded at the same point a year earlier, by 0.90kg.
In week ended 10 September, the EU-spec APP also increased, by 1.38p, to 141.75p/kg. This has reduced the gap between the APP and SPP to 1.86p, which is the smallest since July 2014.
Both 7kg and 30kg weaners continued their northward price march in week ended 17 September. 7kg weaners broke the £35 barrier for the first time since November 2014, up 56p to £35.13/head. This put them £2.75 ahead of the same point a year earlier. There was a more modest price increase for 30kg weaners, of 19p to £47.27/head. However, they still stand at over £2 more than the same period last year.
Vikki Campbell, Senior Analyst
Vikki.Campbell@ahdb.org.uk, 024 7647 8741