EU-spec SPP increase brings pig prices to nearly £2 per kg

The EU-spec standard pig price (SPP) rose by just short of 1 pence, to 197.40p per kg, the AHDB said
The EU-spec standard pig price (SPP) rose by just short of 1 pence, to 197.40p per kg, the AHDB said

Pig producers saw a much-needed price increase in the week ending 13 August, according to the AHDB's latest market report for the sector.

The EU-spec standard pig price (SPP) rose by just short of 1 pence to 197.40p per kg, the AHDB explained.

The SPP has increased by almost 4.5 pence over the last four weeks.

Although prices are still rising, the AHDB said the recent rate of growth had been more subdued than previous weeks.

An estimated 167,000 pigs were slaughtered in the week, up 7,500 head on the previous week, but down 13,000 head from this time last year.

Carcase weights increased by 690g this week to 87.83kg/head, counteracting the drop seen last week, the AHDB said.

The levy organisation added that carcase weights may now be starting to settle after six months of decline.

Average weights are now only 630g heavier than they were at this point last year and for the last five weeks, weights have been fluctuating between 87.88kg and 87.14kg.

The EU spec APP stood at 199.76p/kg for the week ending 6 August, a marginal increase from the week before.

This narrowed the gap between the SPP and APP to 3.3p.