The EU-spec SPP has reached 199.53p per kg, tantalisingly close to the elusive £2/kg mark, but it still falls short of production costs.
The SPP averaged 199.53p/kg in the week ending 7 September, up 1.13p from the previous week.
This is a weekly increase of 1.13p, the largest increase in the SPP since the end of July.
Although the increase will be welcomed by producers, it still falls short of the estimated cost of production, calculated at 223p/kg for August.
Estimated slaughter throughputs stood at 161,000 head for the week, down 4% (6,900 head) on the previous week and 3,700 head (2%) lower than the same week last year.
Average carcase weights increased 350g to 88.24kg, the first time they moved over 88kg since the beginning of July.
The EU-spec APP for the week ending 27 August averaged 201.08p/kg, easing for the second week in a row.
This has narrowed the gap between the APP and SPP to 2.68p, the smallest gap so far this year.
It follows new data showing the scale of the pig sector's contraction, with the breeding pig herd declining by 18 percent in the space of just one year.
England's female breeding herd was down to below 261,000 in June 2022, compared with 313,000 a year before.
This confirms the loss of more than 50,000 sows and gilts, according to Defra's June agricultural survey.
Meanwhile, estimates recent published by the AHDB highlighted how the sector has lost £600m since October 2020 to the end of June 2022, due to escalating costs of production.
The figures show that average pig production losses were £52 per head in Q2 2022.
