Pig prices continue to fall

Pig prices have experienced their largest week-on-week decline since February 2016. 

According to Agriculture & Horticulture Development Board (AHDB) Pork figures for the week ending 23 September, the EU Specification Standard Pig Price (SPP) for British pigs was 161.04p/kg, representing a decline of 1.29p.

“At 20p, the gap between the current quote and year earlier levels is the narrowest since October,” said AHDB Pork analyst Annie Linekar. The levy board explained that prices this time last year were about 20p higher, although the premium is at its smallest level since last October.

“Estimated slaughterings declined for the third consecutive week by 1% to 164,500 head; a 9% decline on the year. Industry reports suggest demand for pig meat is relatively steady, which may have contributed to some of the decline in slaughterings.”

Meanwhile, the average weight of a pig carcase increased by 240g on the week, reaching 84.26kg. This is the heaviest recorded weight since the end of February 2017. Linekar explained: “In view of plant breakdowns in the previous week, as well as a fall in demand, the increase in weight is likely to be attributed to pigs staying on farm longer. While a seasonal increase would be expected at this time of year, the current weight is 2% higher than year earlier levels.”

For the week ending 16 September, the EU-spec All Pig Price (APP) fell by 0.55p, hitting 165.7p/kg. This is the lowest figure since the end of June. Due to the larger SPP drop, the gap between the APP and SPP widened slightly to 3.40p.

Meanwhile, 30kg weaner prices rose by £1.73 week on week for the week ended 23 September. This means they are £11 higher than year earlier levels. Juxtaposing this, 7kg weaners recorded a decline of £1.55 on the week, resulting in them standing at £42.77 a head. However, this is still £7.22 higher year on year. 

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