Pig prices edged up by 0.41p in the week to October 4, probably as a result of changes to some contracts following the end of the DAPP last week, according to BPEX.
The end of week EU-spec GB SPP was 155.62p, registering an increase on the previous week despite what BPEX termed “industry reports indicating ongoing weak demand”.
“This could lead to further volatility in prices over the next few weeks,” said BPEX. “However supplies may also have tightened slightly, as AHDB/BPEX estimate that weekly slaughterings were 4% down on a year earlier, at 170,300 head. The average weekly carcase weights continued to rise, with the latest quotation at 82.05kg. This was marginally higher than the week before but was the heaviest average weight recorded since the SPP began in April and probably constitutes a record high.”
The slight week-on-week improvement comes on the back of UK farmgate pig prices having fallen 9.1% below last year’s levels, according to AHDB’s final DAPP weekly commodity report which showed prices first moved below 2013 levels in the week ending May 24 this year. Since then the 2013/2014 gap has widened each week.
Having been at 171.5p per kg in October 5, 2013, prices edged upwards to 172.1p/kg by October 26, 2013, after which prices declined to 155.1p/kg for the week ending October 4, 2014, fully 9.1% down on the year.