GB pig prices remain under pressure
The EU-spec SPP declined further in week ended 9 September, falling 0.82p to 162.92p/kg. This is the lowest weekly price since the start of July this year, but remains 23.03p above equivalent 2016 levels.
Increased supplies have reportedly been weighing on pig prices lately, not helped by recent plant breakdowns and continuing slow retail demand. However, estimated slaughterings actually fell almost 3% on the previous week, to 168.9 thousand head. This was also 3% behind year earlier levels. Average carcase weights edged up by 110g compared to the previous week, averaging 84.13kg. Carcase weights would normally be expected to show some seasonal increase around this time of year.
In week ended 2 September, the EU-spec APP also declined, by 0.37p to 167.30p/kg. This returns the APP to levels from eight weeks prior. Meanwhile, the gap between the APP and the SPP widened slightly to 3.56p.
Both categories of weaners reported further price declines in week ended 9 September. 30kg weaners lost 97p compared to the previous week, standing at £59.34/head. Nonetheless, this figure was still over £12 above year earlier levels. 7kg weaners posted a decline of 59p, to stand at £43.83/head. This was the lowest price for the series since July, and the decline may reflect increased caution surrounding these pigs, as they will not be finished until the traditionally more challenging new year period.
Bethan Wilkins, Analyst
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