Upward momentum continues for GB pig prices

The end of May saw the eleventh consecutive week of pig price rises
The end of May saw the eleventh consecutive week of pig price rises

Upward momentum is continuing for the pig sector as prices increased in the week ended 29 May, with the EU-spec SPP up 1.05p to 152.79p/kg.

This is the eleventh consecutive week of price increases, though the smallest weekly growth since April, according to analysis by AHDB.

Prices are now over 14p higher than the low point in mid-February, but still nearly 12p behind this time last year.

However, AHDB recently stated that feed prices continued to make profitability 'near impossible for many'.

Bethan Wilkins, senior analyst said: "Some recent increase in the EU market prices may be helping to bolster prices, as well as ongoing decent demand levels here in Britain."

Industry market commentary also continues to describe supplies as tight, with estimated slaughter during the week similar to the week before, at 180,000 head.

However, this is still 12 percent higher than a year earlier, Ms Wilkins explained.

"Carcase weights continue to decline, with the average for the latest week at 86.55kg, the lowest level of the year so far," she said.

The EU-spec APP also recorded an increase in the week ended 22 May, rising by 1.33p to 155.22p/kg.

This is the highest price since early December and widened the gap between the APP and SPP to 3.48p.