Pig prices: Slaughter numbers plummet as SPP drops back
The EU-spec SPP has dropped back again, but the most eye-catching part of the latest of AHDB’s market data is the drop of in estimated slaughter numbers.
If these turn out to be accurate – and they are often revision – weekly GB slaughterings, at 141,000 for the week ended March 16, appear to be at the lowest level outside of Christmas and New Year since April 2010.
Estimated GB slaughterings for the week were nearly 6,000 down on the previous week, 20,000 below the same week a year ago and 34,000 below the 2022 figure.
The drop off appears to be a combination of the vastly reduced breeding herd, combined with, according to last week’s PIG meeting, productivity issues, partly the result of the relentless wet weather.
The SPP lost 0.18p to stand at 211.31p/kg during the week ended March 16, following the previous week’s 00.16p increase. It has been extremely stable since the end of January, when it stood at 211.38p/kg, fluctuating up and down by tiny amounts since, and is now roughly back to where it was.
It is now, however, for the first time in a very long time, now more than 1p behind the SPP of a year ago, which stood at 212.53p/kg, at a time when pig prices were still rising at a decent rate.
The much more volatile APP, which includes premium pigs, gained 1.2p during the week ended March 9 to stand at 211.63p/kg, cancelling out the declines of the previous fortnight. This put it back ahead of the SPP for the week by just 0.14p/kg.
Despite the latest reverse, many within the industry remain optimistic that the combination of tightening supplies and rising EU markets will support the market over the coming weeks.
Alistair Driver | National Pig Association
Read full article Share on twitter