Still no upturn for GB pig prices
The fall in the EU-spec SPP, which started last summer, continued in the week ended 2 March, with prices currently at 137.43p/kg.
Prices typically start to pick up around this time of year, as supplies tighten and demand starts to improve. Tightening supply is particularly anticipated this year, following the hot weather last summer. However, the latest quote showed another weekly decline, though admittedly by just 0.06p. Pig prices are currently around 8p below year-earlier levels.
Estimated weekly slaughterings suggest that supplies have not yet started to noticeably tighten compared to earlier in the year. Throughputs in the week totalled 173,100 head, virtually the same as the previous week and 6% (9,500 head) higher than year-earlier levels. The average SPP carcase week also remained high at 85.14kg, up a little compared to the previous week and nearly 900g above the week in 2018.
Having recorded some uplift in the previous week, the EU-spec APP declined by 1.06p in the week ended 23 February, to 142.70p/kg. This meant the gap between the APP and the SPP narrowed again, to 5.21p.
Similarly, the 7kg weaner marked dropped over £1 to £35.39/head in the week ended 2 March. This follows two weeks of small rises, so the drop may relate to the mix of pigs traded and the underlying price trend is probably steady. The annual price decline for 7kg weaners is now 36p. For the same week, there was no 30kg weaner price available due to insufficient data to produce a statistically robust price.
Bethan Wilkins, Analyst
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