GB pig prices for w/e November 5th 2023
Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP fell by a further 1.1p during the week ended November 4 to stand at 217.78p/kg, meaning the price index has now fallen by nearly 8p since mid-August.
The decline followed the previous week’s dip of 0.76p, and means the SPP has now fallen for the past four weeks, and 10 out of the last 11, although it is still just over 17p ahead of a year ago.
The gap between the SPP and APP has narrowed again, continuing the recent trend. Following the previous week’s loss of 1.64p, its biggest fall of the year, the APP, which includes premium pigs, actually increased by 0.19p to stand at 218.62p/kg during the week ended October 21. This left it just 0.26p behind the SPP, as the reversal of the usual relationship continues.
The two main factors in falling prices appear to be a weakening domestic demand for pork, allied with falling EU prices.
The EU reference price for the week ended October 29 was down by nearly another penny to 186.07p/kg, on the back of further falls in France and Spain, meaning it has now come back by around 29p since mid-July. The gap between the UK and EU reference prices closed slightly during the week to just over 30p, but with the UK price coming down at a much slower pace over the autumn, it has grown significantly from just 6p in July.
Estimated GB slaughterings remain well below year earlier levels. The figure for the week ended November 4 was down by more than 5,000 the previous week at 151,859, which was 20,000 lower the same week in 2022 and 36,000 below the equivalent 2021 figure.
Pig World
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