Weekly gains in GB pig prices
The EU-spec SPP for the week ended 5 May stood at 146.62p/kg.
This is an increase of 0.80p on the week, the largest weekly gain since July 2017. Despite the increase, the latest quote is still behind year earlier levels, with the difference widening to 11.20p as prices were growing more strongly at this time in 2017.
The price rise has been supported by tighter supplies than earlier in the year, as disease difficulties during the winter feed into slaughter pig availability. Estimated slaughterings stood at 162,000 head for the week ended 5 May, a 2% decline on the previous week. Reports suggest some processors operated on a four day week in advance of the bank holiday which may have also limited throughputs. Estimated slaughterings also fell by 1% on the year, despite the fact the same week last year contained a bank holiday which may have reduced throughput. Compounding the tighter supply situation, average carcase weights declined by 410g on the week, to 83.08kg. This is half a kilo less than year earlier levels, which might suggest there have been difficulties with growth rates.
The EU-spec APP rose to 148.77p/kg for the week ended 28 April. This was a week-on-week increase of 0.40p. With the SPP recording larger gains in the equivalent week, the gap between the two price series narrowed to 2.95p.
Similarly, weaner prices also rose in the week ended 5 May. 7kg weaners averaged at £37.38/head, £1.46 ahead of the previous week. However, the average price is still £3.84 below last year’s levels. Likewise, 30kg weaner prices rose week-on-week by £2.63, to £52.79/head. This was also below year earlier levels, by £6.04.
Felicity Rusk, Trainee Analyst