Prices up, throughput down for GB deadweight pigs

GB deadweight pig prices have continued moving upwards in January, with all but the first week (w/e 7 Jan) recording new records for the SPP. For the four weeks ending 28 Jan, the EU spec SPP averaged 202.34p/kg, up 1.75p/kg on the December average. Although the fall in prices in the first week came as a surprise to some, prices recovered with growth in week 2 (+1.65p) balancing out the decline and a significant increase in week 4 (+2.26p), which saw the SPP at its highest ever value of 204.78p/kg. This means that the EU spec SPP (w/e 28 Jan) was sitting nearly 70p above prices from this time last year and 60p above the 5-year average.

The APP has been following the same overall trend as the SPP. For the four weeks ending 21 Jan, the EU spec APP averaged 205.87p/kg, an increase of 1.19p/kg compared to the previous four week period. In the four weeks, movements were mixed with strong growth in weeks 1 and 4 outweighing the decline seen in week 2 (w/e 7 Jan). The EU spec APP also ended the period on a new record high, standing at 207.03p/kg (w/e 21 Jan), over 60p above where prices were this time last year.

GB estimated slaughter fell in the month of January, although weekly movements were mixed. For the four weeks ending 28 Jan throughputs totalled 629,500 head, a decline of 22,300 head compared to the previous four weeks. Weekly throughputs averaged at 157,400 head, significantly lower than the numbers seen a year ago (-12,900 head) and the 5-year average (-17,200 head). This supports wider industry commentary that the supply of finished pigs is beginning to run tight.

Average carcase weights have increased in January compared to December, with the SPP averaging 89.31kg (for the four weeks ending 28 Jan) up almost 2kg on the month and the APP up 1.5kg to average 88.15kg (for the four weeks ending 21 Jan). It has been reported that some pigs were brought forward early in December to ensure seasonal demand was met. Despite this, average carcase weights are now in line with the 5 -year average and significantly lower (-6kg) than this time last year when the heaviest weights on record were reported.

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