Pig prices resume the downward trend
GB pig prices declined in the week ended 24 February, with the EU-spec SPP falling 0.41p on the week to stand at 145.66p/kg.
This resumed the general downward trend in prices after a modest increase in the previous week. In the equivalent week last year prices also declined however, but the figure this year was 3.93p behind year earlier levels. The decline in prices suggests that there are plentiful supplies of pigs on the market, continuing to outstrip demand.
Estimated slaughterings were 5% lower on the week totalling 177,400 head, however, this is 7.5% ahead of year earlier levels. Average carcase weights remained steady compared to the previous week, dropping by a modest 60g to 84.25kg. The average carcase weights were also steady on the year, lower by a mere 40g.
The EU-spec APP in the week ended 17 February, averaged 149.02p/kg, 0.19p less than in the previous week. With the increase in SPP and a decline in APP during the week, the gap between the two price series narrowed to 2.95p.
In the week ended 24 February, 7kg weaner prices rose 40p on the week, averaging £36.85/head. The price was £1.28 lower than the same week last year. The price for 30kg weaners dropped by £2.78 on the previous price published two weeks ago. At £50.18/head the price stood £6.06/head below the previous year and was the lowest since the end of October 2016. The rise in throughput compared to the previous week, and differences in the mix of pigs available, may have contributed to the lower price.
Abigail Schofield, Trainee Analyst
Abigail.Schofield@ahdb.org.uk, 024 7647 8610