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UK pig prices end 2016 on a high
Published:  06 January, 2017

The EU-spec Standard Pig Price (SPP) bounced back from a modest decline in the week ending 31 December 2016. This was mainly driven by tighter supplies. 

According to the Agriculture & Horticulture Development Board (AHDB), prices were up 0.10p/kg on the week to 151.90p/kg. This is an increase of almost 30p on the same week in 2015 when the market was in decline.

“Prices did see their first decline since April in the week following Christmas as demand fell, however tighter supplies since Christmas have meant that prices have recovered,” said Mark Kozlowski, senior analyst at AHDB Pork.

“Estimated GB slaughterings fell by 28% on the previous week [ending 24 December] to 119 thousand head in the bank holiday-affected week between Christmas and New Year. This was 7% higher than the same period a year ago. Carcase weights were 1.3kg higher than the previous week making up some of the falls seen since November, reaching 83.29kg. This is still 0.3kg higher than the same week in 2015.”

Prior to the end of the year, the EU-spec Average Pig Price (APP) saw its first fall since March in the week ended 24 December, falling by 0.18p compared to the previous week. Despite this, the prices remained 27p higher than the same week in 2015. As a result, the premium for the APP over the SPP decreased by 0.16p to 2.9p/kg.

“Both weights of weaner saw price rises in the week ended 31 December, with 30kg weaner prices up by £2.96 on the previous week to £56.47/head, following last week’s fall,” added Kozlowski.

“Meanwhile, 7kg weaners saw an increase of £0.52 to reach £39/head. This means that 7kg weaners are now over £7 higher than the same week last year, while 30kg weaners had a premium of over £17.”