The continuing decline in GB pig prices stalled in week ended 20 January, with the EU-spec SPP instead climbing a marginal 0.03p to 148.25p/kg.
This ends a 21-week period of continually declining pig prices, with the SPP now over 16p/kg below where it was before this. However, the stability this week follows a relatively large decline of almost 1.5p/kg the previous week, and may reflect some market adjustment following the previous week’s drop. Reports suggest supplies remain ample in relation to demand, and so whether this price stability can continue remains uncertain.
Reflecting the reports of ample supplies, throughputs rose during the week, reaching 185,200 head. This was 5% higher than the previous week and a substantial 10% above year earlier levels. Carcase weights, meanwhile, fell by 400g compared to the previous week to 84.47kg. This is virtually on par with year earlier levels, having been well above for the previous three weeks.
The EU-spec APP for week ended 13 January stood at 151.38p/kg. This was a decline of 1.28p compared to the previous week, and meant the gap between the APP and SPP for the same week widened to 3.16p.
In the week ended 20 January, prices for both categories of weaner picked up somewhat, although both remain behind 2017 levels. 7kg weaners averaged £37.88/head, £1.29 less than a year earlier although this was an increase of 16p on the previous week. 30kg weaners averaged £53.09/head, £2.36 less than last year but £1.28 higher week-on-week.