Continued declines for GB pig prices
The EU-spec SPP declined again in week ended 23 September, by 1.29p to stand at 161.04p/kg.
This is the largest weekly decline recorded since February 2016 and returns this series to levels last recorded at the beginning of June 2017. At 20p, the gap between the current quote and year earlier levels is the narrowest since October 2016.
Estimated slaughterings declined for the third consecutive week by 1% to 164,500 head; a 9% decline on the year. Industry reports suggest demand for pig meat is relatively steady, which may have contributed to some of the decline in slaughterings.
Average carcase weights increased by 240g on the week to reach 84.26kg; the heaviest weight recorded since the end of February. In view of plant breakdowns in the previous week, as well as a fall in demand, the increase in weight is likely to be attributed to pigs staying on farm longer. While a seasonal increase would be expected at this time of year, the current weight is 2% higher than year earlier levels.
In the week ended 16 September, the EU-spec APP also continued to decline by 0.55p to 165.73p/kg; the lowest figure recorded since the end of June. Meanwhile, as a result of the larger drop in the SPP, the gap between the APP and SPP widened slightly to 3.40p.
Weaner prices once again recorded contrasting changes in week ended 23 September. 30kg weaner prices rose by £1.73 week on week to £60.22/head and remain over £11 higher than year earlier levels. Conversely, 7kg weaners recorded a decline of £1.55 on the week to stand at £42.77/head, but is £7.22 higher year on year.
Annie Linekar, Trainee Analyst
firstname.lastname@example.org, 024 7647 8723