GB deadweight pig prices (UK spec)
The APP (All Pig Price) is the GB average deadweight pig price achieved by producers each week. The SPP (Standard Pig Price) is the average price for GB standard pigs, those that have not received a premium for the production system, feed regime or breed. The prices are collected from voluntary surveys. These prices are for carcases dressed to UK specification.
The UK-spec SPP rose noticeably in the week ending 3 April 2021, gaining 1.15p to average 139.28p/kg. This movement follows reports of strong underlying demand and that supply levels are now tighter. Even what would often be a short working week due to the Easter holidays failed to dampen the upward movement, with market commentary indicating many processors worked through the break. Whether the trend holds for the second “Easter week” (week ended 10 April) remains to be seen.
The average carcase weight decreased slightly to 89.76kg. This was down 240g on the previous week, but weights are still in excess of 3kg heavier than last year, as has been the case throughout 2021 so far. Estimated slaughter was down 6% to 197,000 head though this was still 11% above the same week last year, even though this week in 2020 did not contain a bank holiday. However, as mentioned last week, it is possible the weekly slaughter estimates will be adjusted down when actual Defra figures for March are released.
The UK-spec APP also rose in the week ending 27 March 2021, gaining 1.52p to stand at 142.98p/kg. This widened the gap between the APP and SPP to 4.85p, the largest difference this year. The widening gap indicates that either more premium pigs came forward that week, or the premiums being paid for these pigs have increased.
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