SPP continues to move up
The EU-spec SPP has continued its upward trajectory in the week ending 8 February. The average price rose by 0.13p on the week, to average 162.74 p/kg.
Estimated slaughter continued to fall, dropping back by 1.4% (2,500 head) compared to the previous week, to total 179,300 head. Excluding Christmas, this is the lowest weekly throughput since last September. Industry reports suggest there have been some factory breakdowns, which may result in some pigs being rolled into next week. Meanwhile, demand was reported as varied. There are differing opinions regarding how the outbreak of Coronavirus could affect export demand.
Carcase weights were on average 280g heavier than in the previous week, averaging 85.85kg.
The APP had been rising more strongly than the SPP in recent weeks. However, in the week ending 1 February, the EU-spec APP recorded a drop of 0.33p. In the same week, the SPP actually showed the reverse trend, increasing by 0.07p. As such, the gap between the two narrowed to 1.8p.
For the week ending 8 February, the 7kg weaner price firmed on the week, putting prices over £7/head above the same week last year. Meanwhile, the 30kg weaner price also recorded an increase on the week, to average £59.07/head.