UK pig prices have risen after sixteen consecutive weeks of decline, with the EU-spec SPP creeping up by 0.11p to 211.47p per kg.
This was only the second weekly rise since early August and means the SPP remains at just over 14p below the early-August high of 225.64p/kg.
The gap to the same week 12 months ago has narrowed to under 6.5p.
The APP, which includes premium pigs, has been much more volatile since early December, but it has also stabilised, falling by just 0.01p to 211.67p/kg.
This meant the APP, again, moved fractionally ahead, by 0.31p, of the SPP for the week.
The National Pig Association (NPA) said the price movement was 'encouraging' despite falling EU prices.
The EU reference dropped by a further 3p to 172.05p/kg during the week ended 28 January, meaning it has now lost 11p during the first four weeks of 2024.
The gap to UK reference price has grown to more than 36p, the biggest it has been for some time, making imports extremely competitive.
"The upward pressure on UK pig prices appears to be coming from tight supplies as we move out of the January lull," the NPA said.
Recent Defra figures show UK pig slaughterings were down a massive 17% year on year in December and the trend has continued into January.
Estimated GB slaughterings for the week ended 3 February, at 153,650, were 3,000 up on the week but remained 8,000 below the 2023 figure for the week and 27,000 down on 2022.
