Lacklustre demand keeps pressure on pig prices
During the week ended 29 September pig prices continued to track downwards for the 11th consecutive week.
The EU spec SPP fell by 0.47p, to 147.21p/kg. The price is currently 13.23p below last year’s price.
GB estimated slaughterings were up around 4,000 head (+2%) on the previous week to total 176,600. Industry reports suggests that supply is continuing to improve as producers recover from difficult finishing conditions in the past months, however poorer demand is being reported which is being reflected in the prices. Improved growth rates are reflected in increased carcase weights, which gained 450g on the week to 83.34kg.
After a couple weeks of price rises, the EU-spec APP declined slightly on the week, down 0.81p in the week ended 22 September, to finish on 150.93p/kg. The current figure is 14.07p below last year’s price. In the corresponding week, the SPP fell by less, and as such the gap between the two prices has narrowed, with the difference now measuring 3.25p.
In the week ended 29 September, GB 7kg weaner prices averaged £37.32/head, up £2.82 on the previous week. Contrastingly, 30kg weaner prices fell by £3.29 compared to the previous week to average £51.87.
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647