GB pig prices in steady descent
In the week ended 4 November, the EU-spec SPP declined 0.87p, marking the eleventh week of consecutive declines.
At 155.16p/kg, the series has returned to levels last seen in April. Nonetheless, the current quote remains 6.28p above year earlier levels.
Estimated slaughterings in week ended 4 November increased 5% on the previous week to 188.1 thousand head, climbing 6.3% on the equivalent week of 2016. Carcase weights also rose marginally (+50g) on the week to 84.71kg; still 1.3kg heavier on the year, supporting increasingly sufficient supply. Hence, an ease in the tightness of supplies witnessed earlier in the year is likely contributing to the current pressure on prices.
In the week ended 28 October, the EU-spec APP dropped by 1.35p to 159.01p/kg. Despite continuing the ten week trend of declines for the series, the most recent figure remains 9.72p higher year on year. A slightly sharper decline in the APP in the week ended 28 October has offset the more dominant drop in the SPP in the week before, meaning the gap between the APP and SPP narrowed slightly to 2.98p.
Both categories of weaners dropped slightly in price in the week ended 4 November. The 30kg weaner price fell £2.54 on the week to £56.19/head, counteracting the rise last week, but remaining £1.78 above year earlier levels. Meanwhile, the 7kg weaner price decreased by 97p on the week to stand at £42.02/head; now £4.88 higher year on year.
Annie Linekar, Trainee Analyst
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