SPP jumps to three month high

The EU-spec SPP rose 3.20p/kg in the week ending 19 March, to 141.71p/kg, the highest recorded value in 2022 so far. The rise follows announced price increases last Friday by some processors, via their weekly contributions. These increases would have then fed into the weekly price overall. A further increase in the SPP next week could be expected, as further increases in weekly contributions have since been announced.

Estimated slaughter was at 196,000 head, down 3,600 from the week before. Carcase weights dropped again this week to 94.17kg/head which is the lowest weight recorded since the beginning of the year. Lower carcase weights are a positive sign that the backlog is reducing, all be it at a gradual pace as weights are still 5kg/head heavier than the same time last year.

The EU-Spec APP rose by 0.38p in the week ending 12 March, to 144.66p/kg.

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