Pig Market Commentary

Each week the IFA compiles prices paid or quoted to its members nationwide. Take a look at the latest report below.

April 18, 2018

No change in Irish pig prices with quotes remaining at an average of €1.40c/kg. Irish pig farmers remain perplexed that the seemingly positive vibes from the market place, both domestic and from our main export destinations, have not transpired into pig price increases thus far. While 2017 was a generally profitable year for pig production, cash reserves built up have been depleted after the past four months of below cost production. Worryingly, for Irish pig farmers’, input costs, namely feed, which had remained stable for a number of years, has started to moved north, with all grain and protein markets having shown significant increases in recent weeks. While no Irish pig farmer would begrudge the native Irish tillage sector a much deserved fair return for their crops, this must be matched on the pig output side with a pig price increase. With pig feed price increases coming down the tracks, the risk of a real financial crisis in the pig sector looms large and it is only a substantial pig price increase above €1.50c/kg that will offset this happening.

Ireland’s percentage of the EU price has improved and is currently 96% of the EU average price as reported to the EU Commission for the week commencing 02/04/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending April 7th 2018 was 54,343 head which was 12,983 head less than the previous week and 9,532 less than in the corresponding week in 2017.

Export Plants:  Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, and Staunton’s and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon and Cookstown.

Sows 60c/kg DW.

Weekly Slaughtering’s:  Week-ending 07/04/2018 Pigs: 54,343 Sows: 1,709

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 02/04/18

Irish price                                            €1.39kg

EU–27 average price                         €1.44kg

(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).

April 10, 2018

Another week of static pig prices with processors quoting from a low of €1.38c/kg up to €1.42c/kg. All main European markets seem to have stabilised following a few weeks dramatic pig price increases. The Irish pig price has never improved since the consecutive decreases in January this year, despite the much-improved market for pigmeat. This week’s news that China is to impose tariffs on many products, including pork originating in the US, should in theory help European pigment exporters such as Ireland. The Chinese market, which has become an important market for Irish pigmeat products in the past 4 years, particularly lower value cuts and offal, has unfortunately remained stubbornly sluggish in the 1st quarter of 2018, with improved demand but price sensitivity begin a factor.  All things considered, the current pig price undervalues the Irish pig at €1.40c/kg and requires a prompt increase.

Ireland’s percentage of the EU price has improved and is currently 99% of the EU average price as reported to the EU Commission for the week commencing 26/03/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending March 31st 2018 was 67,326 head which was 1,664 head less than the previous week and 6,234 more than in the corresponding week in 2017.

Export Plants:  Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, and Staunton’s and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon and Cookstown.

Sows 60c/kg DW.

Weekly Slaughtering’s:  Week-ending 31/03/2018 Pigs: 67,662 Sows: 1,664

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 26/03/18

Irish price                                            €1.40kg

EU–27 average price                         €1.45kg

(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).

April 4, 2018

Another week of static pig prices with processors quoting from a low of €1.38c/kg up to €1.42c/kg. All main European markets seem to have stabilised following a few weeks of dramatic pig price increases. The Irish pig price has never improved since the consecutive decreases in January this year, despite the much-improved market for pigmeat. This week’s news that China is to impose tariffs on many products, including pork originating in the US, should in theory help European pigment exporters such as Ireland. The Chinese market, which has become an important market for Irish pigmeat products in the past 4 years, particularly lower value cuts and offal, has unfortunately remained stubbornly sluggish in the first quarter of 2018.  Demand has improved, but price sensitivity has been an issue.  All factors combined, the current pig price undervalues the Irish pig at €1.40c/kg and is therefore entitled to an increase.

Ireland’s percentage of the EU price has improved and is currently 95% of the EU average price as reported to the EU Commission for the week commencing 19/03/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending March 31st 2018 was 69,326 head which was 7,895 head more than the previous week and 6,031 more than in the corresponding week in 2017.

Export Plants:  Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, and Staunton’s and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon and Cookstown.

Sows 65– 75c/kg DW.

Weekly Slaughtering’s:  Week-ending 31/03/2018 Pigs: 67,692 Sows: 1,634

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 19/03/18

Irish price                                            €1.38kg

EU–27 average price                         €1.45kg

(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).

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