Pig prices drop back down in New Year week

The EU-spec SPP for the week ended 1 January 2022 dropped back to 140.55p per kg
The EU-spec SPP for the week ended 1 January 2022 dropped back to 140.55p per kg

Weekly pig prices dropped back down to 140.55p per kg during the week ending on New Year's Day, according to the latest available figures.

The EU-spec SPP was down 2.31p compared to a week earlier, and counteracts the 1p gain that was recorded in the previous week.

The SPP reflects the price of all standard pigs bought by GB processors in the previous 7-day week and is a simple average of all the prices paid in that week alone.

Analysing the figures, the AHDB said that even in 'normal' times, a slowdown in the pig market was typical in the post-Christmas period.

The estimated weekly clean pig throughput totalled 136,000 head, slightly lower than the equivalent week a year ago.

Carcase weights reached an average of 94.12kg, up almost 2kg on the week and again the highest on record.

Bethan Wilkins, AHDB red meat senior analyst, said: "Probe measurements have been a little volatile recently and increased again to an average of 11.8mm in the week; this was also recorded a few weeks ago and remains the highest probe measurement for the SPP sample since the series began.

"We clearly continue to see heavier, fatter pigs coming forward as a result of slaughter delays, now also compounded by the Christmas holidays."

Looking at the average price for just those pigs weighing 70-104.9kg, this was 143.85p/kg, only a drop of 1.24p on the week.

Ms Wilkins added: "Higher numbers of pigs outside normal contract specifications will have contributed to the drop in the SPP.

"Only 84% of the SPP sample fell within the 70-104.9kg bracket in the latest week, which compares to 87% the previous week and a longer-term average closer to 93%."

The EU-spec APP for the previous week ended 25 December followed the trend of the SPP in the same week and also rose.

At 148.85p/kg the price was over a penny higher than the previous week, and the gap between the two price series widened to 5.99p.