SPP drops by largest amount this year, says NPA
The National Pig Association (NPA) has reported the biggest drop in Standard Pig Price (SPP) of the year.
During the week ending 30th September, EU-spec SPP fell by 1.75p to 221.72p/kg, the biggest drop of 2023. Currently, the price index is just over 21p more than a year ago. This comes as the SPP has fallen 2.2p over a period of five weeks
According to the NPA, Average Pig Price (APP) increased 0.25p to end on 223.18p/kg for the week ended 23rd September. APP finished the week 0.3p behind SPP.
Average carcase eights were 0.8kg behind a year ago, increasing to 89.59kg during the week ended 30th September.
During the same week, estimated GB slaughterings were down 8,000 on the week, down 13,000 year-on-year (YoY).
In the week ended 24th September, the EU reference price stood at 197.04p/kg after gaining 0.6p. When compared to the UK, which stood at 220p/kg, the difference was 23p.
EU prices have continued to fall over several months, which NPA said will be a factor in the SPP’s big drop.