Weekly pig prices and slaughter data for Great Britain.
The EU-spec SPP fell for the seventh consecutive week, falling by a further 0.63p to stand at 216.53p/kg during the week ended November 25.
The price index has now fallen for 13 out of the last 14 weeks, losing 9p since mid-August, although the decline has been relatively sedate from a high base. The SPP remains about 16p ahead of a year ago.
The APP, which includes premium pigs, was down by 0.3p during the week ended November 18 to stand at 216.68p/kg. This increased the gap slightly on the SPP to 0.47p, as the reversal of the usual relationship continues.
The main factors driving falling prices appear are a weakening of domestic demand for pork, allied with falling EU prices, which, for some months, have been falling more rapidly than in the UK. However, EU have steadied of late.
The EU reference price actually increased by 0.25p stand at 184.91p/kg during the week ended November 19. It has now barely moved for the last three weeks and the gap to the UK reference price has narrowed slightly to 29p, albeit still significantly wider than the single-figure gap seen for much of this year. Imports remain very competitive.
Estimated GB slaughterings remain at relatively elevated levels. The figure for the week ended November 25 was down by 2,000 on the previous weeks, at 170,463 head, but was 19,000 down on a year ago. These estimated figures are frequently subject to revision.
After recently hitting the highest average this year, at just over 91kg, average carcase weights have dropped fractionally below the 90kg-mark, at 89.99kg, in the week ended November 25, down nearly 0.8kg on the week, but still 1.2kg ahead of the equivalent week a year ago.
London feed wheat was quoted by AHDB on Wednesday at around £188/tonne for January, down slightly on a week ago, and £191/t for March.
To see the weekly price graphs, click here