GB pig prices for week ending May 5, 2023 – SPP continues to rise
Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP increased by a further 0.46p to reach 219.53p/kg during the week ended May 5, as tight supplies and strong EU prices continue to drive the pig price up.
The latest increase follows slightly bigger increases of just over 0.8p over the previous two weeks, but continues the unbroken upward movement of the price average in 2023. The SPP has now risen for 16 consecutive weeks since the start of the year, gaining more than 19p in the process. The SPP currently stands at 48p ahead of a year ago.
The gap between the SPP and APP remains small. After the previous week’s decline of 0.48p, which left the difference at just 0.62, the APP, which includes premium pigs, increased by nearly a penny to reach 219.8p during the week ending April 29. The gap between the two price averages increased slightly to 0.73p, still historically very small, suggesting that, on average premium pigs, such as outdoor-bred and free range, are now more closely priced to Red Tractor pigs.
Prices in Europe remain high, but have stabilised in recent weeks. After gaining 4p over the previous two weeks, the EU reference price crept up by just 0.06p to 211.74p/kg, during the week ended April 30, with gains in Denmark, which remains a long way behind the rest, and falls in France.
The gap between the EU and UK reference prices increased slightly to just below 5p, still well below typical levels last year of around 20p.
Pig World | AHDB
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