UK pig prices- week ended 1 April
In week ending 1 April, the EU-spec SPP rose for the fifth consecutive week.
At 153.13p/kg, the current quote is 1.43p up on the week and is over 40.5p higher than the same week in 2016. Furthermore, this is the highest price this series has reached since October 2014. Estimated slaughterings were also down, on the week by 2% and 3% on the year, at 165 thousand head. This reiterates the market sentiment at the moment, where supplies of pigs are tight, resulting in a rise in prices. Furthermore, average carcase weights fell one again, albeit marginally (200g), to 83.69kg, the lowest weekly average since the end of 2016. Compared to the same week a year earlier, the current weight is just 50g heavier.
The EU-spec APP increased by 0.53p in week ending 25 March, to 154.71p/kg. Furthermore, the current quote is almost 39p higher than the same week in 2016. The gap between the APP and the SPP closed further in the week ending 25 March, to 3.01p/kg, as the SPP recorded a greater increase.
Prices have also been moving up further on the continent led by Germany where both clean pig and sow prices are rising significantly.
30kg and 7kg weaner prices both recorded upward movements in week ending 1 April. 30kg weaner prices recorded an increase of £1.28 on the week to £58.12/head, the highest quote for the series since December 2013. 7kg weaner prices rose by 41p week on week to £39.77/head, the highest price for this series since August 2014. Compared to the same week in 2016 both 30kg and 7kg weaner prices were higher, by £22.26/head and £11.13/head respectively.
Millie Askew, Analyst
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