GB pig prices hit near record high - week ended 15 July
In the week ending 15 July, the EU-spec SPP climbed for the twentieth consecutive week to 164.20p/kg. This is the second highest price recorded since the series began in April 2014, just behind week ending 31 May 2014 when the price reached 164.22p/kg.
The current quote gained a further 0.34p on the previous week and is over 36p higher than the equivalent point in 2016.
Estimated slaughterings recorded a small gain on the week of 1% in the week ending 15 July, but remain well below (-7%) year earlier levels at 158.6 thousand head. The average weight remained relatively unchanged on the week at 82.56kg, while the average probe measurement increased by 0.3mm to 11.3mm. Compared to the same week last year, the current weight is 660g heavier, but the average probe measurement is 0.2mm smaller.
The EU-spec APP also continued to rise in the week ending 8 July, to the highest level since the price series began in April 2014. At 167.23p/kg, the current quote is 1.22p up on the week and nearly 38p more than the same week in 2016. The gap between the APP and the SPP closed slightly, as the SPP recorded greater gains, to stand at 3.37p/kg.
In contrast to the finished pig market, market reports indicate that UK sow prices are now in decline given the fall in the German market where prices have declined by 10% so far in July.
In the week ending 15 July, weaner prices recorded diverging trends. At £61.34/head, 30kg weaner prices increased by 22p on the week and remain well above (£18.59/head) year earlier levels. On the other hand, 7kg weaner prices lost 49p over the week, but remain over £12/head up on the same week in 2016 at £43.49/head.
Millie Askew, Senior Analyst
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