Pig prices drop back down in New Year week

The EU-spec SPP dropped again to 140.55p/kg in the week ended 1 January. This was down 2.31p on a week earlier and counteracts the 1p gain that was recorded in the previous week. Even in “normal” times, a slowdown in the pig market is typical in the post-Christmas period.

The estimated weekly clean pig throughput totalled 136,000 head, slightly lower than the equivalent week a year ago. Carcase weights reached an average of 94.12kg, up almost 2kg on the week and again the highest on record. Probe measurements have been a little volatile recently and increased again to an average of 11.8mm in the week; this was also recorded a few weeks ago and remains the highest probe measurement for the SPP sample since the series began. We clearly continue to see heavier, fatter pigs coming forward as a result of slaughter delays, now also compounded by the Christmas holidays.

Looking at the average price for just those pigs weighing 70-104.9kg, this was 143.85p/kg, only a drop of 1.24p on the week. Higher numbers of pigs outside normal contract specifications will have contributed to the drop in the SPP. Only 84% of the SPP sample fell within the 70-104.9kg bracket in the latest week, which compares to 87% the previous week and a longer-term average closer to 93%.

The EU-spec APP for the previous week ended 25 December followed the trend of the SPP in the same week and also rose. At 148.85p/kg the price was over a penny higher than the previous week, and the gap between the two price series widened to 5.99p.

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