GB pig prices continue to gain
In the week ending 16 June, the EU-spec SPP rose slightly compared to the previous week.
At 150.07p/kg, the price was 0.72p/kg higher than the week before. However, the measure remains nearly 12p/kg below year earlier levels.
GB estimated slaughterings lifted 2.5% week-on-week (4,100 head) to a total of 169,700 head, the highest weekly estimate since April. This estimate is also 8% above the previous year, although note this week was exceptionally low in 2017. Nonetheless, while limited supplies may have been keeping the market tight, the situation may now be showing signs of easing. Reports suggest one or two processors had ample supplies, although this may be aided by softening demand. Note over the past two months, the gap between EU and UK pig prices has averaged over 20p/kg, which may be increasing competition from imported product. Whether this will limit pig prices in the coming weeks remains to be seen.
Average carcase weights dropped again on the week, by 90g, to 82.79kg. In contrast to the previous week, this was 100g above year earlier levels. The average probe measurement, recording fat depth, also increased to 11.2, the largest since March.
The EU-spec APP increased by a more modest 0.15p/kg in the week ending 9 June, to 152.43p/kg. This was a week when the SPP fell slightly, and so this led to the price difference between the APP and the SPP widening to 3.08p.
7kg weaner prices also picked up a little, by 5p, to stand at £38.12/head for the week ending 16 June. This however stands £5.84/head below the equivalent week last year. Meanwhile, 30kg weaner prices were reported at £54.06/head, 12p above last week but again around £6/head below last year.
Duncan Wyatt, Lead Analyst
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