Marginal decline in SPP

By Felicity Rusk

After two weeks of price rises, the EU-spec SPP recorded a decline in the most recent week, although a rather marginal one. In the week ending 13 March, the measure averaged 139.41p/kg, 0.04p less than the previous week. Prices nevertheless remain well below the previous year (-23.81p).

Estimated slaughter dropped back slightly on the week, standing at 199,400 head. This is 1,300 head (-1%) less than in the previous week. However, throughputs were well above both the previous year (12%) and the five-year average (16%). This is particularly impressive as throughputs began to rise this time last year ahead of the first wave of the pandemic.

February slaughter figures confirmed reports that progress has been made in reducing the size of the backlog. However, there is still progress to be made to eliminate the issue entirely. Reports suggest there may be some tightening in supplies in the spring-time, which would agree with a poorer performance seen in the breeding herd in the final quarter of last year.

Carcase weights dropped back once again. Weights averaged at 89.27kg, 680g less than in the previous week. Weights remain well above the previous year and the five-year average, at +3.34kg and +4.79kg respectively. 

The EU-spec APP recorded an uplift in the week ending 6 March. Prices averaged 144.11p/kg, 1.31p more than in the previous week. While the SPP also recorded a price increase in the same week, it was considerably less than recorded in the APP. As such, the difference between the two measures increased to 4.66p.

Unfortunately, the sample was not robust for both 7kg and 30kg weaners in the week ending 13 March and so there are no published prices for this week.

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