Pig prices jump up on previous week
- EU-spec SPP ↑1.11p to 155.32p/kg (w/e 5 October)
- Estimated slaughter ↑3,200 to 184,000 head (w/e 5 October)
- EU-spec APP ↑0.26p to 156.37p/kg (w/e 28 September)
The EU-spec GB SPP recorded the largest week-on-week increase since June in the week ending 5 October, reaching 155.32p/kg. The pig price is now up 8.53p compared to the same week last year.
Estimated slaughter in the same week reached 184,000 head. This was a 2% (+3,200 head) increase on the previous week and an 11,600 head increase on the same week last year. Carcase weights also increased by 0.24kg on the previous week, averaging 84.52kg.
It seems that good export demand and higher import prices have started to drive increased upward momentum in pig prices. The Traffic Lights spot base has been above the SPP for a few weeks now, suggesting supplies are relatively tight when compared to demand. This is despite industry reports suggesting domestic retail demand has been patchy.
For the week ending 28 September, the EU-spec APP gained 0.26p on the previous week to average 156.37p/kg. During the same week, the SPP grew by 0.46p, so the gap between the SPP and APP narrowed.
For the week ending 5 October, 7kg weaner prices increased by 35p to average £40.10/head, £4.03 higher than the same week last year. 30kg weaner prices stood at £50.99/head, which was a £4.35 increase on the previous year, but £1.68 lower than the last reported price two weeks ago.