Pig prices soften slightly
The EU-spec SPP declined slightly (0.13p) during the week ending 6 January, standing at 149.65p/kg. The series now stands 1.59p below and 30.56p above the equivalent weeks of 2017 and 2016 respectively.
Estimated slaughterings for the week ended 6 January were at a similar level to the same week last year, at 141.5 thousand head. This is almost 40% higher than the previous week, reflecting the higher number of working days in this week. The previous week had 2 bank holidays due to the Christmas period whereas the current week only had the New Year bank holiday. Demand for pigs was good during the week, in part due to processors re-stocking from the Christmas week, with supply able to meet this demand due to the carryover from the short killing weeks.
Up until the last week of 2017, carcase weights had been declining week-on-week. Average carcase weights slightly rose during the week ending 6 January, to 84.72kg, an increase of 600g on the week.
In the week ended 30 December, the EU-spec APP fell 0.46p on the week, to 153.3p/kg, just 1.51p below year earlier levels. However, the current price is well above 2016 levels at this time of year. The gap between the APP and SPP for this week widened once again, to 3.52p, reflecting the sharper decline in the SPP this week.
During the week ending 6 December, the 7kg weaner price declined by £2.04, standing at £38.13/head. Compared to the same week last year the 7kg weaner price stood £0.21 higher. There is no price available this week for 30kg weaners due to data availability.
Rebecca Oborne, Analyst
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