UK PIG PRICES- WEEK ENDED 25 MARCH
The EU-spec SPP rose for the fourth consecutive week, in week ending 25 March. At 151.70p/kg, the current quote is 0.66p up week on week and is almost 39p higher than the same week in 2016.
Despite the rise in prices, estimated throughputs for week ending 25 March were up once again on the week, by 5,800 head at 168,900 head. Likewise, slaughterings are 7,400 head higher than the same week a year earlier. However, it is worth bearing in mind that the equivalent week last year was shorter due to the Easter bank holiday. While throughputs were higher last week, supplies remain tight contributing to a rise in prices. Prices have also been increasing on the continent as Easter demand kicks in. Average carcase weights fell in week ending 25 March, albeit marginally (30g), to 83.89kg, possibly highlighting the good demand from processors. Nevertheless, compared to the same week a year earlier, the current weight is 550g higher.
In week ending the 18 March, the EU-spec APP gained 0.46p on the week at 154.18p/kg. Furthermore, the current quote is almost 39p higher than the same week in 2016. The gap between the APP and the SPP narrowed to 3.14p/kg as the SPP gained more in the week ending 18 March.
30kg and 7kg weaner prices both recorded upward movements in week ending 25 March. 30kg weaner prices recorded an increase of £1.57 week on week at £56.84/head, the highest quote for this series since July 2014. 7kg weaner prices rose by £1.09 on the week to £39.36/head. Compared to the same week in 2016 both 30kg and 7kg weaner prices were higher, by £19.88/head and £10.54/head respectively.
Millie Askew, Analyst
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