GB pig prices for week ending January 12, 2019 – APP and SPP gap continues to widen

AHDB Pork’s weekly pig prices, slaughter data and commentary for Great Britain.

The EU-spec SPP fell once again in the week ended January 12.

The drop was of a similar magnitude to last week, back 0.53p to finish the week on 139.49p/kg. The typical slowdown in the pig market post-Christmas is seemingly continuing, with reports that demand is poor across all areas.

Estimated slaughterings in the first full working week of 2019 totalled 175,000 head, up over 6,000 head compared to the same week of 2018. Carcase weights also rose by 320g on the week to average 85.87kg, a new record high for the SPP sample. The current measure is exactly 1kg heavier than the same time last year. Despite reports that most pigs are getting sold, a backlog of pigs through the Christmas period is likely keeping weights higher. The average probe measurement was 11.4mm; this is 0.3mm above the weekly average for the last 12 months.

For the week ended January 5, the EU-spec APP averaged 145.82p/kg, also declining, but by a smaller margin of 0.16p. Due to the SPP falling more harshly in the corresponding week, the gap between the two prices continues to widen and increase the record high, now reaching 5.80p. This is likely related to premium pigs in the APP sample being less exposed to low spot market prices and competition from imported pork. The high weights in the SPP sample might also suggest more standard pigs have fallen outside of contract specifications and attracted lower prices.

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The 30kg weaner price stabilised a little in week ended January 12, after a couple of weeks of volatility. At £47.59/head, the price is up slightly, by 25p. The 7kg weaner price also recorded a modest rise (+89p) and finished the week on £36.96/head.

To see the weekly price graphs, click here

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