UK pig prices
The EU-spec SPP has seen an increase in the week ended 31 December, following the modest decline seen in the previous week.
Prices were up by just 0.10p/kg on the week to 151.90p/kg. Prices are now nearly 30p higher than the same week in 2015 when the market was in decline. Prices did see their first decline since April in the week following Christmas as demand fell, however tighter supplies since Christmas have meant that prices have recovered.
Estimated GB slaughterings fell by 28% on the previous week to 119 thousand head in the bank holiday affected week between Christmas and New Year. This was 7% higher than the same period a year ago. Carcase weights were 1.3kg higher than the previous week making up some of the falls seen since November, reaching 83.29kg. This is still 0.3kg higher than the same week in 2015.
The EU-spec APP saw its first fall since March 2016 in the week ended 24 December, with the measure falling by 0.18p compared to the previous week at 154.65p/kg. However prices remained 27p higher than same week in 2015, following sharper falls seen then. This meant that the premium for the APP over the SPP decreased by 0.16p to 2.9p/kg.
Both weights of weaner saw price rises in the week ended 31 December, with 30kg weaner prices up by £2.96 on the previous week to £56.47/head, following last week’s fall. Meanwhile, 7kg weaners saw an increase of £0.52 to reach £39.00/head. This means that 7kg weaners are now over £7 higher than the same week last year, while 30kg weaners had a premium of over £17.
Mark Kozlowski - Senior analyst