Tight supplies and lower carcase weights see GB pig prices continue to strengthen

As domestic supplies continue to run tight pig prices have remained supported through the month of June, while carcase weights have also eased slightly.

The EU Spec SPP averaged 222.95p/kg in June, an increase of almost 2.3p from May. Weekly increases averaged just short of 0.7p for the month, resulting in the SPP now having gained for 25 consecutive weeks. The latest week's data (w/e 01 July) shows the SPP sitting at 224.17p/kg, a 23p increase since the start of the year.

For the four weeks ending 24 June, the EU spec APP averaged 221.36p/kg. Like the SPP, the APP has seen weekly increases over the period average at 0.7p. However, having recorded a drop in the last week of May, the APP has now only seen four consecutive weeks of growth, but sits 16p above where it started the year. The latest week's data (w/e 24 June) shows the APP now sitting at 222.44p/kg, a difference of only 0.4p to the SPP in the same week.

GB estimated throughputs for the four weeks ending 01 July totalled 615,300 head, a decline of 8,700 head from the previous four-week period and a significant decline of 94,400 head compared the same four weeks last year. On top of the reduced slaughter numbers, lighter carcase weights are also now coming through. In June, the SPP average carcase weight lost 900g from May to sit at 88.52kg, the first time weights have been below 89 kg this year.

The easing in carcase weights is likely to be following seasonal trends, with warm weather reducing growth rates in summer. However, industry remain vigilant to the trend: if weights don’t appear to pick back up come autumn, it may be another indication of just how tight domestic production is. With the well documented pressure across the supply chain to keep throughputs flowing, there is potential for pigs to be brought forward to slaughter slightly earlier, especially in the run-up to peak demand periods, such as Christmas.

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