Pig prices pick up further
In the week ended 2 June, the EU-spec SPP gained 1.20p on the previous week.
This is the largest weekly gain since last July and brings the figure to 149.37p/kg. Despite the increase, the measure is still 11.48p below year earlier levels.
Industry commentary continues to suggest supplies are still very tight in many cases, with reasonable demand related to good weather over the bank holiday period. Estimated slaughterings were down 3% (-5,200 head) at 170,600 head, remembering there was bank holiday in the week. Despite the weekly decline, slaughterings were still estimated to be 6% higher than the previous year. Average carcase weights were up over half a kilo on the week to measure 83.10kg. However, the average weight is still 130g lighter than in the same week last year.
The EU-spec APP rose 0.29p in the week ended 26 May to measure 150.97p/kg. This now stands 12.73p below year earlier levels. The SPP gained slightly more than the APP in the equivalent week and as such the differential between the two prices widened, to 2.80p.
Prices for 7kg weaners went the opposite direction in week ended 2 June and dropped by 37p to stand at £37.70/head. This now measures £5.59 lower than the same week last year. There was insufficient data to quote a price for 30kg weaners that would have been statistically robust.
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647