SPP moves up once again
- EU-Spec SPP ↑ 0.81p to 149.76p/kg (w/e 22 June)
- EU-Spec APP ↑ 0.92p to 151.58p/kg (w/e 15 June)
- Estimated slaughter ↓ 4% to 160.2k head (w/e 22 June)
The EU-spec SPP has continued its upward momentum for the 11th consecutive week, reaching the highest price in 9 months. This is now just 0.27p below the same week last year. Despite a lift in exports, domestic demand is reportedly relatively lacklustre which is dampening overall demand.
Supplies tightened considerably compared to the previous week, perhaps a reflection of the poorer fertility rates last summer and higher incidence of illness through the winter. Carcase weights increased by 180g to average 83.22kg, also a little above year earlier levels.
In the week ending 15 June, the SPP gained more ground than the APP and so the gap between the two narrowed to 2.63p. This is the smallest gap between the two price series since March 2018.
7kg weaner prices dropped back in the week ending 22 June, falling by 23p on the week to stand at £36.48/head. This is nearly 80p below the same week last year. Reports suggest available fattening space may be limited. Unfortunately, not enough data was available to provide a statistically robust price for 30kg weaners.