GB pig prices climb for 22nd consecutive week - week ended 29 July
The EU-spec SPP climbed for the 22nd consecutive week in the week ending 29 July, to another record high for the price series.
At 164.75p/kg the current quote is a modest 0.32p up on the week, but remains over 33p higher than the same week in 2016.
In the week ending 29 July, estimated slaughterings increased by 1% on the week, but remained 8% lower than year earlier levels at 163.6 thousand head. Average carcass weights also climbed marginally on the week, by 60g to 82.97kg, while the average probe measurement remained unchanged at 11.2mm. Compared to the same week in 2016, the current weight is nearly 1.5kg heavier.
In contrast to the UK, EU pig prices have begun to fall over the past few weeks, driven by a shift in the supply and demand balance – click here to read more. With this in mind, while demand for UK pig meat remains steady at the moment, prices could become under pressure going forward, driven by trends in the wider EU market.
In the week ending 22 July, the EU-spec APP also continued to rise, also reaching a new record high for the series. At 168.05p/kg, the current quote is 0.33p up week on week and over 35p higher than year earlier levels. The gap between the APP and the SPP widened slightly to stand at 3.62p/kg.
Diverging trends were recorded in both weaner price categories in the week ending 29 July. 30kg weaner prices were at £59.87/head, 38p higher week on week and nearly £16 up on 2016 levels. On the other hand 7kg weaner prices lost 27p on the week to stand at £44.34/head, but remain over £12 up on the same week last year.
Millie Askew, Senior Analyst
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