The National Pig Association (NPA) has said pig prices continue to fall steadily, but that the most notable element of the latest weekly market round-up is the “relentless rise” in carcase weights.
Carcase weights in the standard pig price (SPP) sample have hit the highest average this year, at 91.05kg, which is an increase of 0.64kg.
“This is the first time the average has topped the 91kg-mark since May 2022, when the backlog was still being worked through. The latest figure was 1.6kg ahead of the equivalent week a year ago,” the NPA said.
The EU-spec SPP has fallen for the fifth consecutive week, dropping back by 0.54p during the week ended November 11 to stand at 217.24p/kg.
The latest decline follows the previous week’s dip of 1.1p, and means the SPP has now fallen for 11 out of the last 12 weeks. It has now lost 8.5p since mid-August, although it remains 17p ahead of a year ago.
The all pig price (APP), which includes premium pigs, was down by 1.21p during the week ended November 4 to stand at 217.41p/kg.
This left it fractionally behind the SPP, as the reversal of the usual relationship continues.
EU prices
The NPA has said falling prices are being driven by a combination of weakening domestic demand for pork, and falling EU prices since the summer.
“The EU reference price for the week ended November 5, was down to 184.75p/kg, mainly reflecting falls in France and Spain -meaning it has now come back more than 30p since mid-July,” the NPA said.
“The gap between the UK and EU reference now stands at close to 32p, relatively high by historic standards, and compared with the single figure gaps that persisted for much of this year to the early autumn.”
Estimated GB slaughterings remain “significantly below” year earlier levels, the trade association for UK pig farmers said.
The figure for the week ended November 11, was up by a few hundred on the previous week at 152,201, which was 22,000 lower than the same week in 2022.
London feed wheat was quoted by the Agriculture and Horticulture Board (AHDB) on Wednesday at around £186/tonne for November, slightly down on a week ago, and £194/tonne for January, slightly up on last week.
