GB pig prices for week ending June 17, 2023
Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP increased by a further 0.57p to reach another new high of 222.65p/kg during the week ended June 17.
The latest rise follows the previous week’s increase of 0.74p and means the SPP has now risen for 22 consecutive weeks since the start of the year, gaining more than 22p in the process. It currently stands at nearly 38p ahead of a year ago.
The gap between the SPP and APP has widened further in a reversal of the usual trends. After the previous week’s increase of nearly a penny, which still left it 0.84 behind the SPP, the APP, which includes premium pigs, was virtually static, moving up by just 0.02p to 220.51p during the week ending June 10. This left the APP nearly 1.6p behind the SPP.
A year ago, the difference was 8p and as recently as early February it was a more typical 5p. While there are differences in how the two measures are calculated, which could partly explain the anomaly, 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. After standing still the previous week, the EU reference price was up by just over 1p to 209.43p/kg during the week ended June 11, with a 2.4p rise in Germany countered by falls in Spain and the Netherlands. The gap between the EU and UK reference prices remained at around 10.5p, still well below typical levels last year of around 20p.
by Alistair Driver | Pig World
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