This was the smallest decrease so far this year, as was anticipated given stabilising prices across the EU and that there have been some reports of a tightening of supply.

AHDB/BPEX slaughtering estimates confirm this, with throughputs back one per cent on the same week last year. However the SPP continues to average around 30p less than the DAPP of last year, partly since cumulative slaughterings in 2015 are up by two per cent.

The average probe measurement this week was up to 11.4mm, the highest since the beginning of the year, in line with sustained heavy carcases. This is likely to be a result of continued low feed costs of good quality so boosting production even further.

For the week ended 28 February, the EU spec GB APP was down 0.80p to 136.89p per kg. This is a difference of 3.68p when compared with the SPP in the same week, slightly less than the gap of the two previous weeks.

The weaner markets were also broadly more stable than in recent weeks. 7kg weaners in the week ended 7 March averaged £33.20 a head. This was down 63p on the week, offsetting the last two weeks of increases as many contracts run cyclically. 30kg weaners averaged £44.81, only 1p down on the week and 43p up on the start of the year, perhaps as a levelling out of availability filters through the supply chain.

Compared to this time last year however, breeders are still receiving £12 less for 30 kg weaners and £7 less for 7 kg weaners, given ongoing uncertainty about the finished pig market.