GB pig prices for week ending June 3, 2023 – SPP up again
Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP increased by a further 0.74p to reach yet another new high of 222.09p/kg during the week ended June 10.
The latest rise follows the previous week’s increase of 0.58p and means the SPP has now risen for 21 consecutive weeks since the start of the year, gaining nearly 22p in the process. It currently stands at 33p ahead of a year ago, a time when prices were accelerating rapidly.
After the previous week’s big drop of nearly a penny, which it in the unusual position of being 1.23p behind the SPP, the APP, which includes premium pigs, moved back up by a similar amount, 0.96p to 220.5p during the week ending June 3. This meant the SPP was still 0.84p above the APP during that week.
A year ago, the difference was 8p and as recently as early February it was a more typical 5p. This suggests that, on average, premium pigs, such as outdoor-bred and free range, are selling for prices below the Red Tractor average, as consumers turn away from premium products due to cost-of-living constraints.
Prices in Europe remain high, but steady. After the previous week’s small increase, the EU reference price was virtually unchanged at 208.21 during the week ended June 4. The gap between the EU and UK reference prices remained at just over 10p, still well below typical levels last year of around 20p.
Pig World
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