GB pig prices: SPP falls to lowest level since Feb 2023
The EU-spec SPP lost 0.71p during the week ended August 31 to reach 209.37p/kg, more then cancelling out gains of 0.5p made over the previous three weeks.
The price index has fallen to its lowest level since February 2023 and is now more than 15p below the same week last year when the price index had just passed its all-time peak.
The APP, which includes premium pigs, lost 0.64p to stand at 210.87p/kg during the week ended August 24, after barely moving the previous week, narrowing the gap to the SPP to 0.8p for the week.
There is little doubt that the UK pig price is coming under pressure from falling EU prices, on the back of subdued demand, fierce price competition in export markets and a 3% increase in production between January and May.
The EU reference price (S grade) dropped by another 1.6p during the week ended August 25 to 182.16p/kg, increasing the differential to the equivalent UK reference price to beyond 30p, a notable difference by historic standards.
Estimated GB slaughterings for the week ended August 31 were 8,500 up on the previous week to 164,428 head, which was 7,500 above the same week last year, and just 1,700 down the 2022 figure for the week.
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