GB pig price slips slightly - Week ended 5 August
In the week ending 5 August, the EU-spec SPP declined for the first time in 23 weeks, however it remains at the second highest level since the price series began in April 2014.
At 164.54p/kg, the current quote declined by 0.21p on the week, but was nearly 31p higher than the same week in 2016. The marginal decline on the week may not have come as a huge surprise, considering the EU reference price started to fall at the start of July, driven by a shift in the supply and demand balance – click here to read more.
Yet the supply of pigs has remained tight as estimated slaughterings fell by 1% on the week and 5% on the year to 161,500 head, in the week ending 5 August. However, the average carcase weight increased by 340g on the week, to 83.31kg, offsetting some of the decline in slaughterings. Compared to the same week in 2016, the current weight is 1.79kg heavier.
On the other hand the EU-spec APP continued to climb in the week ending 29 July, to the highest price since records began. At 168.46p/kg the current quote is 0.41p up on the week and nearly 35p higher on the year. The gap between the APP and the SPP now stands at 3.71p/kg, widening slightly as the APP recorded a slightly larger price gain.
Both weaner categories recorded price rises in the week ending 5 August. 30kg weaner prices gained 19p and were over £15 above year earlier levels at £60.06/head. Likewise, 7kg weaner prices were 66p up week on week and over £12 higher on the year at £45/head, the highest price for this series on record.
Millie Askew, Senior Analyst
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