Some recovery in the SPP after sharp fall last week

By Bethan Wilkins

The EU-spec SPP moved up in the week ended 9 October, reaching 151.01p/kg. This was over 2p higher than the previous week, although prices remained a little below the 5-year average for the time of year.

The uplift in prices comes as estimated throughput dropped back once again. GB slaughter during the week was estimated as 182,300 head, well below last week and 2% below this time last year. Last week, reports indicated throughput was supported by some extra batches of low-priced pigs, intended for markets where only minimal butchery is required. There were fewer of these pigs in the sample this week. While this means the average price paid for pigs overall was higher, making progress on the backlog clearly remains very difficult.

EU prices also remain low, which represents a challenge to the price-competitiveness of British pork. Altogether, despite the fluctuation in the SPP this week, further downward pressure can be expected.

Carcase weights remained high, averaging 90.65kg. However, this is about 300g lower than the week before.

The EU-spec APP for the week ended 2 October saw a significant decline, but not as large as the SPP for the same week. At 156.00p/kg, the average was 2.95p down on the week and broadly in line with the five-year average for the time of year. The gap between the two price series widened to 7.18p, which is the largest difference since the series began.

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