Pig prices still moving up, just
- EU-Spec SPP ↑ 0.30p to 152.50p/kg (w/e 20 July)
- EU-Spec APP ↑0.66p to 154.93p/kg (w/e 13 July)
- Estimated slaughter ↑ 5% to 179.1k head (w/e 20 July)
The EU-spec SPP’s upward momentum seemed a little diminished in the week ending 20 July. The series recorded the smallest weekly increase since the uplift began in April. This puts prices over 2p over the same week last year and 5p above the five-year average.
It is perhaps not surprising that price increases have diminished. The spot market has been falling since the end of June, according to Traffic Lights, and the spot market influences trends in the SPP. Prices in Northern Europe have also come under pressure lately, partly influenced by Germany’s recent suspension from exporting to the Philippines. Here in Britain, retail demand is reportedly still subdued. So, while demand from China remains strong, conditions on other markets are not too favourable.
Supplies have also increased. Throughput was unsurprisingly up on the week, after disruption to the slaughter pace the week before. Estimated slaughter reached 179,100 head, the highest weekly throughput this year and 5% above the week last year. It is probable that some pigs rolled over from last week. Carcase weights averaged 83.57kg, only slightly lower than the previous week. However, carcases are over 1kg heavier than last year.
In the week ending 13 July, the APP gained more ground than the SPP and so the gap between the two widened to 2.73p.
7kg weaner prices have firmed in the week ending 20 July. Prices averaged £39.03/head, up just shy of £1 on the previous week. This lift has brought current prices in line with last year’s levels. Reports suggest that there are good supplies of 7kg weaners. However, there was insufficient data available to produce a 30kg weaner price this week.