Another little lift for the SPP
The SPP recorded another modest increase in the week ending 14 March. The EU-spec SPP averaged 163.22p/kg, 0.17p more than the previous week.
Estimated slaughter for the week totalled 179,400 head, 3.5% (6,000 head) more than the previous week. This puts throughputs at nearly 8% (12,800 head) more than the same week last year. Reports suggest in the light of the coronavirus (COVID-19) pandemic, there has been some encouragement to pull pigs forward to reduce the risk of any future difficulties. A major concern for processors is labour availability, particularly in ensuring there is a large enough workforce to keep supply chains running. Of course, maintaining food supply chains will be a priority in managing this unfolding situation.
Carcase weights were very slightly lighter than last week (-10g), averaging 85.93kg. However, average weights were almost 1kg heavier than the same week in the previous year.
In the week ending 7 March, the EU-spec APP averaged 165.36p/kg, 0.68p more than in the previous week. This is the largest week-on-week gain since last December. While the SPP also increased in the same week, it did not rise to the same degree. As such, the difference between the two widened to 2.31p.
In the week ending 14 March, 7kg weaner prices dropped back 60p on the week to average £42.25/head. However, prices remain £6.70 ahead of last year’s prices. Unfortunately, there was insufficient data available to produce a 30kg weaner price this week.