Pig prices increase as momentum slows
The EU-Spec Standard Pig Price (SPP) increased by just under 2p during the last week of April 2022, revealing that price movements, although still positive, have been lessening in recent weeks.
The 1.91p/kg increase takes the current SPP to 166.83p/kg. It now stands at more than 19p above this time last year and 15p above the five-year average, following ten weeks of uninterrupted increases since early March 2022.
However, the rate of increase has slowed markedly. The price index has risen by 9p in three weeks since the week ending 9thApril, after an increase of 16p in the three weeks previous to that.
The National Pig Association (NPA) said that a slowing in the processor contribution price rises was a main factor in the overall slackening of SPP growth.
NPA added that slaughter “remains healthy” as progress continues to be made in reducing the backlog. GB estimated pig slaughter was 195,600 in the week ending 30th April, 7,000 head more than the previous, shorter week.
Carcase weights averaged 92.29kg, 500g lighter than in the previous week, although pigs in the heaviest weight band still made up more than 10% of the SPP sample.
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