SPP continues downward trend as APP steadies
During the week ending 3 November, the EU-spec SPP fell once again, by 0.84p to average the week on 144.33p/kg.
The price also remains below last year’s price, by 10.83p. Industry reports suggest that factories are at full capacity, leading to pigs being rolled from one week to the next. At the same time, producers are also reporting good growth rates which could also be weighing on the market.
GB estimated slaughterings increased for the second week in a row to total 181,200 head, a 3,500 head rise week-on-week. Despite this, estimated slaughterings were down by 8,200 head compared to the same week in 2017, which is perhaps a reflection of industry reports that demand continues to remain lacklustre for the time of year. The average weight for the SPP sample was 84.77kg, which is much the same as both the previous week and last year’s figure.
In the week ending 27 October, the EU-spec APP was much the same as the previous week, up 0.03p to average 148.95p/kg. Despite this, the price still remains over 10p below year earlier levels. The price differential between the SPP and the APP has widened for the second week in a row and now measures 3.78p.
In the week ended 3 November the 7kg weaner price declined by £1.24 to average the week on £35.68/head. There was insufficient data available to provide a 30kg weaner price.
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647