SPP continues upwards
The EU-spec SPP maintained momentum in the week ending 8 June, increasing 1.38p to average 147.85p/kg. This is the 9th consecutive week of price rises.
Industry reports suggest there is decent underlying demand for pork at the moment. Indeed pork has been performing better in the retail environment lately, with volume sales up 1% in the year to 19th May, compared to the previous year.
Supply dropped back by 3,300 head week on week. Estimated slaughter for the week totaled 160,500 head. The average carcass weight also came back slightly, to average 83.24kg. This brings the measure closer to the previous year, but still 360g heavier in comparison.
In the week ending 1 June, the EU-spec APP increased 0.57p to average 149.38p/kg. The difference between the two prices narrowed once again, and is now 2.91p.
The 7kg weaner price increased by around £1/head compared to the previous week to average £37.24/head. Unfortunately, not enough data was available to provide a statistically robust price for 30kg weaners.