Pig prices: SPP drops back as market stability continues
The pig price has been remarkably stable of late and this continued during the week ended March 30, as the EU-spec SPP dropped back by 0.22p to stand at 211.39p/kg.
This continued the recent pattern of small dips and gains in quick succession, cancelling out the previous week’s 0.3p increase. The price index is now back virtually where it was at the end of January, having stayed within a tight band of 0.3p within the eight-week period.
It is now more than 4p behind where it was a year ago, when pig prices were still rising at a decent rate.
The much more volatile APP, which includes premium pigs, lost virtually all the gains made the previous week, dropping back 1.5p during the week ended March 23, to stand at 211.73p/kg, leaving it fractionally ahead ahead of the SPP for the week.
The EU reference price gained another penny during the week ended March 24 to stand at 186.68p/kg, meaning the gap to the equivalent UK reference price has narrowed to 22p, compared with 37p gap of a few weeks ago.
Estimated GB slaughterings for the week ended March 30 were 1,500 down on the previous week at 143,186, 19,000 below the same week a year ago, and nearly 27,000 below the 2022 figure. These weekly slaughtering figures are often subject to revision when the monthly Defra UK slaughter statistics are published.
Carcase weights are on the up again, averaging 91.35kg in the SPP sample during the week ended March 31, nearly 1kg up on the same week in 2023.
By Alistair Driver | NPA – National Pig Association
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