At 164.17p/kg, the quote dropped 0.49p on the previous week, which is the largest week-on-week decline since February. Nonetheless, the price still remains almost 27p higher than equivalent 2016 levels.

In the week ending 26 August, slaughterings were estimated to be lower than the previous week by 4 per cent, at 162.7 thousand head. Some plants reportedly reduced their kill days in advance of the bank holiday, which may have limited demand.

Throughputs were also 3 per cent behind year earlier levels, perhaps also related to fewer kill days. Average carcase weights increased a little on the previous week, gaining 0.10kg to reach 83.52kg. This was the highest weekly average since May.

The EU-spec APP however, continued to make gains in week ended 19 August. The figure increased a marginal 0.08p on the previous week to stand at 168.20p/kg, which is 0.26p below the peak three weeks earlier, but remains nearly 30p ahead of year earlier levels. With the SPP showing a slightly larger increase in this week, the gap between the two series narrowed slightly, to 3.54p.

Both categories of weaners recorded price increases in week ended 26 August. 30kg weaners posted a gain of £2.11 to reach £60.70/head, the largest weekly increase since April, although this did follow a decline of £2.58 in the previous week.

Seven kg weaners reported a more modest week-on-week price increase of £0.65, averaging £44.90/head. Both 30kg and 7kg weaner prices remain well above year earlier levels, by £12.82 and £10.99 respectively.