Another slow growth for GB pig prices- week ended 24 June
The EU-spec SPP rose again in week ended 24 June, gaining 0.37p to stand at 162.28p/kg.
This is now the 17th consecutive week of growth, although price rises have slowed somewhat in the past two weeks. Nonetheless, the SPP still remains a comfortable 40p above year earlier levels.
Estimated slaughterings increased considerably from the previous week, up by 8,600 (5%) to 169.7 thousand head, the highest level since late March. This was also 4% higher than the same period a year earlier. This represents the only week, other than one in late March when marketings were disrupted by Easter last year, when slaughterings have been above the 2016 level. Meanwhile, average carcase weights also declined again on the week, albeit by a modest 0.11kg, to 82.58kg with possibly the hot weather slowing down growth rates. This meant average carcase weights were just over a kilo higher than the same time a year earlier.
In week ended 17 June, the EU-spec APP also increased further, by 0.47p, to 165.60p/kg. The gap between the APP and the SPP widened again, to just under 3.7p, as the APP increased at a greater rate during this week.
30kg weaners fell back slightly from the record high of the previous week in week ended 24 June, declining 61p to £60.25/head. Conversely, 7kg weaners gained 41p, forming a new record high of £44.37/head. While there has been some modest fluctuation, weaner prices have been exceptionally high for several weeks now, suggesting supplies are still tight and overall confidence in the finished pig market remains good.
Bethan Wilkins, Analyst
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