GB finished pig prices move up

By Felicity Rusk

The EU-spec SPP continued its slight upwards trajectory in the week ending 9 May. Prices increased by 0.25p on the week, to average 164.30p/kg. While prices remain over 21p above the same week last year, it was at this point last year that GB pig prices gained traction. As such, this is the smallest annual change since December last year.

Demand was reported as steady, but there is apparently ample meat in cold storage, which may ultimately become challenging. 

Estimated slaughter recorded a large decline on the week, with 9% (16,000 head) fewer pigs processed than in the week before. However, the most recent week included the early May bank holiday, and so some processors may have worked a shorter week. Furthermore, reports suggest that some processors have had disruptions due to the pandemic, which will have also affected processing capability.

Carcase weights were lighter than in the previous week, declining by 180g to average 84.98kg. This is 1.11kg heavier than in the same week in the previous year.

In the week ending 2 May, the EU-spec APP recorded an uplift. Prices increased by 0.26p to average 167.07p/kg. The SPP also increased in the same week, although the uplift was not to the same degree. As such, the gap between the two widened to 3.02p.

Weaner prices showed diverging trends in the week ending 9 May. Prices for 7kg weaners recorded a marginal increase of 14p on the week, to average £42.64/head. In contrast, 30kg weaner prices recorded a decline of over £2 to average £59.14/head. Reports suggest that demand remained relatively steady, while availability of animals improved.

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