Finished pig prices continue to fall

Finished pig prices in the UK continued to fall in the week ending August 9, according to BPEX.

“The GB SPP reached another new low at 159.18p per kg. This was 0.46p lower than for the week ending August 2, 2014, as subdued demand continued to add pressure to pig quotations,” reported BPEX. “This, together with industry reports suggesting difficulties in moving some cuts, added to the market imbalance.

“The EU-spec DAPP for the week ending August 9 fell by 0.28 to 159.28p per kg, which was 9p below the 2013 level for the equivalent week. The AHDB/BPEX estimated weekly slaughterings totalled 167,000 head, up 4% from a year earlier. Carcase weights during the week averaged 79.12kg, up marginally from the previous week. With pigs heavier compared with a year earlier, the supply in the market has been boosted further.

“The APP for the week ending August 2 fell further to 162.14p per kg, a week-on-week change of 0.82p. During the same week, the GB SPP stood at 159.64p per kg, meaning the APP was 2.5p higher.

“For the week ending August 9, the 7kg weaner market edged up slightly to £40.46 per head, 27p higher than the week before. The latest 7kg weaner quotation showed prices £2 below 2013’s level for the same week.

“The 30kg weaner price weakened by over £4, falling to £51.74 per head. However, due to various disruptions, this fall may not fully reflect market conditions and should be regarded with some caution. Nevertheless, reports suggest that the spot market for weaners is under pressure due to limited availability of finisher accommodation, despite the low level of feed prices. The 30kg weaner price has fallen below the previous year’s level for the first time in nearly two years and is at its lowest level since June 2013.”

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