Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP has dropped back for the first time in five weeks, losing 0.59p to stand at 180.25p/kg during the week ended September 27.
Following four consecutive weekly increases, the SPP is still nearly 2p ahead of late August, but is 26p below where it stood a year ago, on the back of an imbalance of supply and demand, compounded by low EU prices.
The SPP sample stood at just over 49,00 pigs with the biggest price reduction, -1.39p, coming in the 105kg+ range (5,279 pigs), which maybe a result of higher carcase weights.
The SPP masks huge variation, however, when it comes to current pig prices, with some producers receiving. as little as 130p/kg and below for contracted and uncontracted pigs, and others on longer-term cost-of-production-linked contracts receiving around £2/kg and above.
The latest Tribune roundup showed, after the previous week’s shock falls across the board, led by a 15 eurocents crash in Germany, there were further price reductions in France, which had been bucking the trend, and Spain last week, with prices standing on elsewhere, including the German VEZG and sow prices.
The EU reference price (S-grade) lost a further 3p after last week’s declines to stand at 145.53p/kg during the week ended September 20. With the equivalent UK reference price rising, the gap between the two moved above 40p again, although that is still an improvement on the 49p in early August.
AHDB’s estimated GB clean pig slaughterings have returned to trending above year-earlier levels. At 170,353 head, the estimated figure for week ended September 27 was slightly down on last week, but 17,000 head above the year-earlier figure.
There has been a big leap in carcase weights, which were up by 1.28kg to stand at 93.04kg in the SPP sample, the highest level since mid-May but still 2.5kg below the April peak. Carcase weights are now nearly 2kg above year-earlier levels.
London feed wheat futures were quoted by AHDB on September 30 at around £204/t for November, £2 down on last week, and £205/t for January, £8 down on last week.