GB pig prices for week ending October 8 – SPP inches up again
Weekly pig prices, slaughter data for Great Britain
The EU-spec GB SPP continued moving in the right direction in the week ended October 8, inching up by 0.18p to reach 200.55p/kg.
This is the second successive weekly increase, following the reverse in the week ended September 24 and means the SPP has risen by less than 0.6p over the past four weeks as the upward trajectory slows, and means the index is 44p on a year ago.
The APP was back up by nearly a penny, 0.9p, for the week ended October 1. At 203.57p/kg, the gap between it and the SPP was just 3.2p.
The context is, of course, that average prices remain below average costs, estimated by AHDB at 221p/kg for August.
The EU price is critical to the UK market and the large gulf between the UK and EU prices over the summer has contributed to increased volumes of pork imports. As EU prices have risen that gap has closed in recent weeks.
For the week ending October 2, the EU Reference stood at just short of 187p/kg, compared with a UK reference price of 200.7p/kg, the gap of under 14p comparing with more than 30p at some points in August. However, the rise in EU prices has stalled, with some key producers recording falls in recent weeks.
Pig World / AHDB
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