Record-breaking GB pig prices- week ended 22 July
At 164.43p/kg, the EU-spec SPP reached the highest level since the series began in April 2014, for week ended 22 July.
This followed from a modest increase of 0.23p on the previous week, which also left the current quote over 34p higher than the same point last year.
Estimated slaughterings increased for the second consecutive week, climbing 2% to reach 162,000 head. However, this total was still 9% behind equivalent year earlier levels. Nonetheless, reports suggest the market is coming back into balance as the traditionally more difficult summer period approaches. This, alongside some cooling in the continental market, could impact pig prices in the coming weeks.
Average carcase weights gained 0.35kg in week ended 22 July, reaching 82.91kg. This was also 1.5kg higher than the same week in 2016, as carcase weights dropped almost half a kilo in the week last year.
The EU-spec APP also increased in week ended 15 July, adding 0.49p to the previous week’s record price to reach 167.72p/kg. This meant the gap between the APP and SPP widened again, to 3.52p.
Weaner prices moved in opposite directions in week ended 22 July. 7kg weaners gained £1.12 to reach £44.61/head, which was another new record for the series which began in July 2013. The price was also £12.95 above year earlier levels. Meanwhile 30kg weaners lost £1.85 to settle at £59.49/head, which was the lowest price since early May this year, but still £16.34 above 2016 levels.
Bethan Wilkins, Analyst
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