UK pig prices continue downward trend so far in January

UK pig prices have continued their downward trend so far in January, losing 1.6p, with EU prices also beginning the year in reverse.

The EU-spec Standard Pig Price (SPP) lost a further 0.51p during the week ended 13 January to stand at 212.28p per kg, according to the latest figures.

It has now lost 1.6p during the first two weeks of the year and is now more than 13p below the early-August high of 225.64p/kg.

It now stands at just over 10p ahead of the second week of 2023.

The more volatile All Pig Price (APP), which includes premium pigs, lost a further 2.22p, meaning it has lost nearly 4p in two weeks since Christmas.

Having closed the gap, and even moved ahead at one point in December, the APP was trailing 2.4p behind the SPP in the first week of this year.

After some encouragement during the final two weeks of 2023, the EU reference price was down again in the first week of 2024, falling 1.8p to 181.32 during the week ended 7 January.

This leaves it 34p below the mid-July high of 215p/kg. The gap to the UK reference price has grown again to just short of 30p.

Estimated GB slaughterings for the week ended 13January, at 163,015 were only 1,600 down on the 2023 figure and nearly 30,000 up on the first week of the year. These estimated figures are frequently subject to revision.

Carcase weights moved up fractionally to 90.3kg, nearly a kilo up on the same in 2023.