SPP continues upward momentum
In the week ended 6 July, the EU-Spec SPP continued its upward trend, gaining 0.78p to average the week on 151.64p/kg.
The price continues to move above last year’s price and is now 1.17p ahead. The price is also around 5p above the five-year average for the time of year.
Industry reports suggest a tighter supply situation – which is compensating for lacklustre demand. Indeed, estimated slaughterings in the week totalled 166,800 head, back slightly on the previous week although still 3% higher than last year. Average carcase weights also decreased slightly, averaging 83.29kg, back half a kilo compared to the previous week. Again, this was still higher than last year (+600g).
The EU-spec APP continued a similar trend, up just shy of a penny to average 153.26p/kg in the week ended 29 June. This means the price is now above last year’s price for the first time this year. The gap compared to the SPP narrowed to 2.4p.
Following a strong increase the previous week, the 7kg weaner price remained fairly stable in the week ended 6 July, averaging £37.83/head. There was insufficient data available to produce a 30kg weaner price this week.