GB pig prices for w/e October 14th, 2023 – another big drop, EU prices plummet
Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP was down by a further 1.62p during the week ended October 14 to stand at 220.12p/kg, after stabilising the previous week.
This was the second biggest fall of the year, meaning the SPP has now lost 5.5p since mid-August and currently stands 20p ahead of a year ago.
Following the previous week’s loss of 1.5p, the APP, which includes premium pigs, lost another 0.61p to stand at 221.08p/kg during the week ended October 7. This meant the gap between the two price indexes increased once again, with the SPP now 0.65p ahead of the APP, as the reversal of the usual relationship continues.
One of the biggest drivers in the decline of UK prices is falling EU prices. The EU reference price dropped back by a further 2p during the week ended October 8 to stand at 193.78p/kg, led by falls of 4p in Spain, 3p in Germany and 2p in France.
EU prices are falling much more quickly than in the UK. The EU reference price is now nearly 22p down on its mid-July high and the latest drop has increased the gap between the UK and EU reference prices to beyond 25p, compared with low of just 6p during the week ended July 23. Prices in a number of EU countries, led by Germany, fell back further last week.
Estimated GB slaughterings remain well below year earlier levels. The figure for the week ended October 14 was down by more than 1,000 on the week, and at 160,300, it was 27,500 down on the same week in 2022.
It also needs to noted that AHDB’s estimated slaughterings going back for a few weeks have been significantly revised downwards, including the figure quoted last week for the week ended October 7, 169,000, which has been lowered to 161,600, also 27,000 down year-on-year.
Pig World / AHDB
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