Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP has inched up again, gaining 0.44p to stand at 180.84p/kg during the week ended September 20.
This is the fourth week in a row the SPP has moved up, albeit in small jumps over the past three weeks, gaining 2.5p in the process. The SPP is now broadly where it was in late-April/early-May, having dipped below 178p/kg in June and July and 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 51,123 pigs with the biggest price gain, +2.34p, coming in the relatively low-volume 70-80kg range (4,757 pigs).
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 slight improvement in the SPP comes despite a return to falling pig prices across Europe, as highlighted by the latest Tribune roundup.
The German pig price was down a massive 15 eurocents, alongside a fall in the German cull sow price that has resulted in a 9p drop in UK sow prices. Finished pig prices are down by a similar scale in the Netherlands and Belgium, with Spain and France also taking a big hit. Prices remain unsustainably low in Denmark.
Before this, the gap between the headline UK and EU reference prices had been coming down. The EU reference price (S-grade) dropped back slightly to stand at 148.13p/kg during the week ended September 13, after gaining nearly 14p over the past six weeks. With the equivalent UK reference price also falling, the difference dropped to below 38p, compared with 49p in early August.
AHDB’s estimated GB clean pig slaughterings returned to trending above year-earlier levels. At 171,048 head, the estimated figure for week ended September 20 was slightly up on last week, and 3,600 head up on last year.
Following six consecutive weekly increases, average carcase weights dropped back for the first time since late July, losing 0.4kg to stand at 91.86kg in the SPP sample. Carcase weights are now around 3kg below the recent April peak and 1kg above year-earlier levels.
London feed wheat futures were quoted by AHDB on September 23 at around £206/t for November, £4 down on last week, and £213/t for January, £2 up on last week.