GB Pig Price Regains Some of Previous Weeks' Losses

UK - Following negative movements in the previous two weeks, the EU-spec SPP recovered some ground in week ended 19 August, gaining 0.13p to stand at 164.66p/kg. The current quote is almost 29p above year earlier levels, reports Bethan Wilkins, AHDB Pork analyst.
calendar icon 24 August 2017
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This small upward movement comes despite industry reports suggesting there may be some downwards price pressure, due to increased supply availability at some abattoirs in England covering for a Scottish plant, which is currently closed due to fire damage.

Despite this difficulty, and prices continuing to fall on the continent, GB prices have actually been broadly stable over the past three weeks. This has perhaps been aided by the value of sterling against the euro falling even further recently.

At 168.8 thousand head for week ended 19 August, throughputs were in line with revised figures for the previous week. The revision in estimated slaughterings also means slaughterings have been on par with 2016 levels for two consecutive weeks.

As such, there may be some easing to the tight supply situation that has been in play for much of 2017. Meanwhile, average carcase weights recorded an increase of 130g on the previous week, to reach 83.42kg. This was the highest weekly carcase weight since the start of May.

In week ended 12 August the EU-spec APP also recorded an increase of 0.13p, although this was not enough to compensate for the decline in the previous week. At 168.12p/kg, the figure still remained nearly 31p higher than the same point a year earlier. With the SPP recording a decrease in this week, the gap between the APP and the SPP widened slightly, to stand at 3.59p.

Both 30kg and 7kg weaners recorded price decreases in week ended 19 August, with 30kg weaners dropping £2.58 to stand at £58.59/head, while 7kg weaners lost 30p, averaging £44.25/head. Nonetheless, quotes remain substantially above year earlier levels for both 30kg and 7kg weaners, by £13.07 and £11.10 respectively.

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