Another week of stable pig prices
GB finished pig prices remained broadly stable in the week ended 7 July, continuing the trend seen since early June.
The EU-spec SPP moved up by just 0.16p/kg compared to the previous week, reaching 150.47p/kg. This left the figure 13p/kg lower than 2017 levels, with the gap widening as prices were climbing this time last year.
Reports suggest supply has remained tight, and although the impact of the difficult winter may be easing, the hot weather is likely hampering pig growth rates. Estimated slaughterings during the week totalled 159,000 head, a 3% decline on both the previous week and year earlier levels. In fact, this is the lowest estimate for weekly throughputs since Easter, with the ongoing CO2 shortage perhaps now also having some impact. Carcase weights increased very marginally from the level in the previous week, to 82.69kg. This is still a relatively low level and just 160g above year earlier levels. The average probe measurement was stable at 11.1mm. If the hot weather persists, and carcase weights remain low or fall further, this could keep supplies tight in the coming weeks.
The APP followed the trend of the SPP in the week ended 30 June, gaining 0.21p/kg on the week. This brought the EU-spec APP to 153.08p/kg, almost 13p/kg below year earlier levels. The difference between the APP and SPP fell to 2.77p/kg, the smallest gap since the end of March.
A mixed picture was recorded for weaners in the week ended 7 July, with 7kg weaners gaining £1.46/head to stand at £39.54/head, while 30kg weaners were down 72p/head to £54.14/head. Both prices continue to track well below 2017 levels, with 30kg weaners down by £7/head, while 7kg weaners were down by almost £4.50/head.
Bethan Wilkins, Analyst
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