Pig prices increase to highest level so far this year

The EU-spec SPP rose 3.20p per kg in the week ending 19 March, to 141.71p per kg, a three month high
The EU-spec SPP rose 3.20p per kg in the week ending 19 March, to 141.71p per kg, a three month high

Pig prices have increased to the highest level seen this year so far, according to AHDB's latest market report for the sector.

The EU-spec SPP rose 3.20p per kg in the week ending 19 March, to 141.71p per kg, a three month high.

The rise follows announced price increases last week by some processors, via their weekly contributions.

AHDB analyst Freya Shuttleworth said these increases would have then fed into the weekly price overall.

"A further increase in the SPP next week could be expected, as further increases in weekly contributions have since been announced," she said.

For the week ending 19 March, estimated slaughter was at 196,000 head, down 3,600 from the week before.

Carcase weights dropped again to 94.17kg/head, which is the lowest weight recorded since the beginning of the year.

Ms Shuttleworth said that lower carcase weights were a 'positive sign' that the backlog was reducing.

"All be it at a gradual pace, as weights are still 5kg/head heavier than the same time last year."

The EU-Spec APP rose by 0.38p in the week ending 12 March, to 144.66p per kg.