Largest rise in GB pig price since July
The EU-spec SPP recorded the largest increase of the year so far in week ended 28 April, rising 0.55p to stand at 145.82p/kg. With a slightly smaller increase being recorded for the equivalent week last year, the gap compared with 2017 levels also narrowed marginally, to 10.71p.
The rise comes as supplies continue to be tighter than in earlier months of the year. At 165,300 head, estimated slaughterings were on par with the previous week and around 2% above year earlier levels. Average carcase weights also declined by 250g compared to the previous week, to 83.49kg. This was 140g below 2017 levels.
Supplies are expected to continue to be tight in the coming weeks, with a legacy of disease challenges this winter providing some support to the market. Although, the upcoming early May bank holiday may impact processor demand in the next couple of weeks, especially as retail demand has reportedly so far been less than favourable.
In contrast to the increase in the SPP recorded for week ended 21 April, the EU-spec APP declined marginally by 0.04p, to 148.37p/kg. This meant the gap between the two price series narrowed to 3.10p. The latest APP quote currently stands 10.66p below year earlier levels.
Weaner prices were more subdued in week ended 28 April. 7kg weaner prices fell to £35.92/head, a decline of £1.06 on the week and just over £5 below year earlier levels. The 30kg weaner price also declined by £1.67 compared to two weeks ago, when it was last published, to £50.16/head.
Bethan Wilkins, Analyst
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