GB pig prices for w/e June 8th, 2024 – SPP and APP both record large drops
Weekly pig prices and slaughter data for Great Britain.
In an unwelcome shock for many pig producers, the EU-spec SPP dropped back by 1.23p during the week ended June 8, to stand at 210.16p/kg, while the APP has also recorded a big loss.
This was the biggest movement either way for the SPP since mid-October and broke a remarkably stable run dating back to mid-January that has seen the SPP confined within a narrow band of less than 1p (210.67-211.61p/kg).
The SPP is now 3.7p below where it was at the start of the year and nearly 12p below a year ago.
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The APP, which includes premium pigs, has also recorded a big drop, falling by 2.65p during the week ended June 1 to stand at 211.06p/kg, virtually wiping out gains made over the previous three weeks. This left it 0.33p behind the SPP for the week.
The scale of the price drops is surprising, given that EU prices are currently very stable and pig supplies appear to be tight.
The European reference price dropped back very slightly during the week ended June 2 to 188.15p/kg, with the gap to the equivalent UK reference price now just over 21p, a fairly typical difference.
AHDB’s estimated GB slaughterings fell back by nearly 3,000 on the previous week to 148,187 during the week ended June 8. That is a relatively low figure, which although broadly in line with last year when throughputs were starting to come down, was more than 31,000 below the 2022 figure for the week.
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