British pig prices have dropped to their lowest level since February 2023 and are now more than 15p below the same week last year.
The EU-spec SPP, which is the average price for GB standard pigs, lost 0.71p during the week ended 31 August, falling to 209.37p/kg.
The latest move has more than cancelled out gains of 0.5p made over the previous three weeks.
The APP, which includes premium pigs, lost 0.64p to stand at 210.87p/kg after barely moving the previous week, narrowing the gap to the SPP to 0.8p.
The UK pig price is coming under pressure from falling EU prices. The EU reference price (S grade) dropped by another 1.6p during the week to 182.16p/kg.
This has increased the differential to the equivalent UK reference price to beyond 30p, a notable difference that makes imports more attractive.
Estimated GB slaughterings for the week were 8,500 up to 164,428 head, which was 7,500 above the same week last year, and just 1,700 down on the 2022 figure for the week.
However, these figures remain subject to revision amid ongoing uncertainty over Defra UK figures.
After a few weeks of steady decline, average carcase weights moved up again during the week ended 1 September, gaining a notable 0.8kg to reach 90.36kg in the SPP sample. This was 0.7kg above the same week in 2023.
London feed wheat futures were quoted by AHDB on 4 September at £183/t for November, £3 up on the week and just under £187/t for January.
