Pig prices have increased again to a new record high as supply numbers continue to tighten in the UK.
The EU-spec SPP increased yet again during the week ended 11 February, this time by 1.45p to reach a high of 206.39p/kg.
Following last week's modest 0.16p increase, it has now risen by more than 6p over the past five weeks. The SPP is now nearly 68p ahead of where it was a year ago.
Meanwhile, the APP gained 2.31p to reach 209.74p/kg in the week ended 4 February, after a small increase the previous week. The gap between the two price averages widened to nearly 4.8p.
It comes as pig supply numbers continue to tighten at home as well as a rise in pig prices in Europe, underpinned by lower pig numbers.
After a few weeks of stability, the EU reference price gained a huge 3.65p to reach 181.71p/kg the week ended 5 February, on the back of notable increases in Germany, Spain, the Netherlands and Poland.
The gap between the EU and UK reference prices narrowed appreciable to 25.4p.
Earlier this week, the National Pig Association (NPA) urged Defra to push forward 'without delay' with its review of the UK pork supply chain.
After two years that have seen one crisis follow another and pig production losses estimated at £750m, the NPA stressed that "things cannot continue as they are".
More than 350 responses were submitted to Defra’s consultation on contractual practice in the pig supply chain last autumn, most of which were from pig producers.
