UK pig prices- week ended 10 June
The EU-spec SPP rose once again in week ended 10 June, climbing 0.85p to 161.70p/kg. This is the highest SPP since July 2014, and remains over 41p above the equivalent year earlier figure.
Tight supplies, both domestically and on the continent, continue to push pig prices upwards. The further weakening of the pound is providing an additional boost to the UK market, increasing demand for British product by deterring imports and promoting export competitiveness.
At 165,300 thousand head, estimated GB slaughterings in week ended 10 June were up 2% compared to the previous short holiday week, but were 1% behind year earlier levels. Meanwhile, at 83.14kg, average carcase weights were virtually unchanged on the previous week, and 1.3kg higher than in the same week in 2016.
In week ended 3 June, the EU-spec APP recorded a rise of 0.98p to stand at 164.68p/kg. Increases in the APP have outpaced those seen by the SPP over the past two months, and so the gap between the two series has gradually widened. The difference stood at 3.83p for the most recent week, over a penny greater than in mid-April.
In contrast, diverging trends were recorded in the GB weaner market for week ended 10 June. 7kg weaners recorded an increase of 57p to £43.86 per head, continuing to establish new record levels. Conversely, 30kg weaners posted a 71p decline on the week, falling to £59.54 per head. Prices for both categories of weaner remained well above year earlier levels; over £19 higher for 30kg weaners and £14 higher for 7kg weaners.
Bethan Wilkins, Analyst
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