UK pig prices- week ended 21 January 2017
In the week ending 21 January the EU-spec SPP continued its downward trend, losing 0.44p over the week at 150.60p/kg.
The decline in prices largely reflects the seasonal trend recorded at this point over the past few years with the market still basically in balance after allowing for demand easing post festive season. Nevertheless, the current quote remains 35.43p up on the same week a year ago, when prices were falling at a faster rate.
Estimated slaughterings in week ending 21 January decreased marginally on the previous week to 172 thousand head. However, compared to the same point in 2016 they were 3% down and so remained below year earlier levels. Carcase weights increased slightly week on week by 0.19kg, averaging 84.45kg and remain less than 0.5kg above last year.
The EU-spec APP recorded its largest weekly fall since February 2016 in week ending 14 January. At 154.16p/kg the current quote recorded a drop of 0.66p on the week and is the lowest price since early December. Nevertheless, compared to the same week a year ago, the current quote is over 32p higher, as prices were falling at a faster pace during the same week in 2016. The sharper decrease in APP compared to SPP has led to the gap between the two price series narrowing to 3.12p.
Both weaner categories recorded price gains in week ending 21 January. 30kg weaner price rose by £1.52 over the week to £55.45/ head, gaining back some of the losses recorded in the previous week. 7kg weaner prices rose for the second week in the row to £39.17/ head, an increase of £0.58. Furthermore, the latest price is the highest for this series since the end of August 2014. Compared to the same week in 2016, both 30kg and 7kg weaner prices were higher by £19.35 and £10.30 respectively.
Millie Askew, Analyst
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