SPP continues upward
The EU-spec SPP once again recorded a slight increase in the week ended 23 March, up 0.19p week-on-week to average 137.96p/kg.
Despite some recent uplift in the price, the measure remains below year-earlier levels, by 7.41p. Industry reports suggest that processors have stockpiled product in cold stores in order to prepare for Brexit, which is having a negative effect on demand.
Estimated slaughter for the week totalled 160,200 head, down 4,000 head on the previous week. Issues at one processor reportedly caused a number of pigs to roll into the following week, which could explain some of the
Contrastingly, the EU-spec APP in the week ended 16 March fell slightly (-0.12p) to average 142.77p/kg. Like the SPP, the price remains below year-earlier levels, by 5.56p. The gap between the two prices now measures exactly 5p, a slight narrowing on the previous week.
Meanwhile, in the week ended 23 March, 7kg weaner prices fell by 10p to average the week on £35.45/head. The price is currently £2.56 below the 2018 price. There was insufficient data to provide a robust figure for a 30kg weaner price
Tom Forshaw, Analyst
Tom.Forshaw@ahdb.org.uk, 024 7647 8647