Poor demand continues to weigh on pig price
During the week ending 27 October, the EU-spec SPP continued on a downward trend, as has been the case since the end of July.
Declining by 0.20p, this is less severe than more recent drops and brings the average price for the week to 145.17p/kg. The price is currently 10.86p lower than year earlier levels. Industry reports suggest that demand is surprisingly poor for the time of year when processors should be preparing for Christmas, which could be weighing on the price.
GB estimated slaughterings for the week totalled 177,700 head, up by 4,500 head on the previous week and much the same as the same week of 2017 (-0.4%). Week-on-week increases are perhaps a reflection of industry reports, which suggest that factory reliability has improved a little. The average carcase weight for the SPP sample was 84.70kg, up 0.38kg on the week earlier.
The EU-spec APP followed similar trends and in the week ending 20 October fell by 0.47p to finish the week on 148.92p/kg. This is 11.44p below year earlier levels. The gap between the APP and the SPP in the corresponding week has widened slightly and now measures 3.55p.
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647