BPEX’s first Standard Pig Price revealed

The new GB Standard Pig Price (SPP) was launched by BPEX today (July 2). The value was the week to June 28 was 163.57p/kg, although the levy body also revealed figures for July 21 (163.44p/kg) and July 14 (164.02p/kg).

Today’s figure was based on a sample of 81,350 pigs and was based on figures supplied by HG Blake, Cheale Meats, FA Gill, Tulip, Dunbia, Woodhead Bros, Cranswick and Karro.

The GB SPP covers all pigs except those that attract an explicit premium for a specific attribute such as breed, feeding regime or a production system such as Freedom Foods. It is calculated using the same basic specification as the current DAPP, except that it covers standard pigs only.

The figure is based on individual pig data that includes the gross price (before deductions) and weekly paid bonus payments. It also doesn’t include retrospective bonus payments that are dependent on achieving contract criteria. Data providers will be audited to ensure the specification is followed.

BPEX’s head of data and analysis, Charlotte Garbutt, said the launch of the GB SPP would provide greater insight into trends in the pig market.

“Adding the SPP to the range of pig price data provided by AHDB, increases the information available on the standard commercial pig market,” she added.

Ms Garbutt said historic price data was vital for a well-informed and efficient industry, but the SPP was designed to be an accurate record of the past and not a means of fixing forward contract pig prices.

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