GB pig prices ease further
The EU-spec SPP fell once again in week ended 16 September, down 0.59p to stand at 162.33p/kg.
This returns the series to levels last recorded in June this year, but is still almost 22p above the equivalent 2016 price. Some industry reports suggest the fresh meat market has been subdued in recent weeks, following from poor high street demand, which may be weighing on the finished pig price.
This, coupled to continued reports of plant breakdowns, may have contributed to the slight decline (-0.6%) recorded in throughputs compared to the previous week. At 165.7 thousand head, estimated slaughterings were also 2% below year earlier levels. Nonetheless, reports suggest there are ample supplies available, implying processor demand is keeping throughputs down at present.
Meanwhile, average carcase weights showed a marginal fall on the week, declining 0.11kg to 84.02kg. This is still a notable 1.4kg above year earlier levels.
In week ended 9 September, the EU-spec APP also declined, by 1.02p, to 166.28p/kg. This was the largest weekly decline since the end of January 2016, and meant the gap between the APP and the SPP narrowed to the smallest level since April, at 3.36p.
Weaner prices recorded diverging trends in week ended 16 September. 7kg weaners recorded an increase of 49p, almost countering the previous week’s decline, to stand at £44.32/head. This left the figure £9.19 above the same point last year. Conversely, 30kg weaners posted a decline of 85p on the week, to stand at £58.49/head. This was still £11.22 higher than equivalent 2016 levels.
Bethan Wilkins, Analyst
firstname.lastname@example.org, 024 7647 8757