Pig Market Commentary

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

August 6, 2020

Irish pig prices remain stable with pig farmers receiving €1.64/kg – €1.68/kg in all the main export plants this week. Farmers sending pigs across the border to Karro Foods in Cookstown have reported small increases due to high demand with 2c/kg more being paid this week. There is definitely more appetite from pig factories this week with plenty of farmers reporting to secure 2c/kg increases for deliveries this week. IFA Pigs Chairman said that it is not unofficial 2c/kg increases that framers should be getting, but official pig price increases up to €1.70/kg. The domestic pig meat business remains very strong, with reduced volumes of imported pigmeat product coming into the country since the onset of Covid-19 restrictions. Our biggest export market, the UK remains the leading pig price today and there is a buoyant export trade for all pigmeat products to China. All these factors indicate that Irish pig farmers are entitled to €1.70/kg in the short term.

Ireland’s percentage of the EU price has improved and is currently 108% of the EU average price as reported to the EU Commission for the week commencing 27/7/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending August 1st 2020 was 66,607 head which was 515 less than the previous week and 1,229 less than in the corresponding week in 2019.

Export Plants: Top prices on a flat rate basis = €1.64/kg-€1.66/kg in Rosderra and Kepak, = €1.64/kg-€1.68/kg in Staunton’s and Dawn Pork & Bacon. Sows: €.54c/kg DW. Weekly Slaughtering’s: Week-ending 1/8/20 Pigs: 64,702 Sows: 1,905 EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 27/7/20 Irish price €1.63kg EU–27 average price €1.51kg (Grade E pigs - 55% to 60% lean meat excluding VAT but including transport and bonuses).

July 29, 2020

No change in Irish pig prices with farmers receiving €1.64/kg – €1.68/kg in all the main export plants again this week. Rabobank pork production quarterly analysis has revised the worldwide production of pigmeat down further. It had predicted that worldwide pork production would decline by 5% compared with 2019, but since Covid-19, it has now revised this to a decline of 8% of worldwide pork production. The vast majority of this drop in pigmeat will come from China, the Philippines and Vietnam, all due to ASF. This drop in worldwide production should offset the major disruption the sector has encountered due to Covid-19. The Chinese market remains volatile as a second wave of Corona virus hits Beijing, and restrictions are slowing down imports, including pigmeat consignments from Europe. This low supply of imports and the reduction in home production has seen live pig prices almost double in recent weeks in China.

Ireland’s percentage of the EU price has improved and is currently 110% of the EU average price as reported to the EU Commission for the week commencing 11/7/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending July 25th 2020 was 67,122 head which was 253 less than the previous week and 714 less than in the corresponding week in 2019.

Export Plants: Top prices on a flat rate basis = €1.64/kg-€1.66/kg in Rosderra and Kepak, = €1.64/kg-€1.68/kg in Staunton’s and Dawn Pork & Bacon. Sows: €.54c/kg DW. Weekly Slaughtering’s: Week-ending 25/7/20 Pigs: 65,148 Sows: 1,974 EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 11/7/20 Irish price €1.63kg EU–27 average price €1.48kg (Grade E pigs - 55% to 60% lean meat excluding VAT but including transport and bonuses).

July 22, 2020

No change in any pig price again this week. €1.64/kg- €1.68/kg remains the range of quotes in all the main pig factories again this week. The past number of weeks have witnessed a huge amount of volatility across many EU continental markets, Germany in particular dropping to as low as €1.47/kg. The reasons for this downward price movement are short-term and almost entirely linked to throughput problems in pig factories. Covid-19 remains a major human health issue and the virus has proven difficult to contain in meat factory environments across the globe. There are positives with the large Tonnies plant reopening this week, and although throughput is restricted, it is getting through the backlog of factory fit pigs on farms. While Covid put a spanner in the works of all market analyst predictions from the start of the year, the outlook remains very good for a rising pig price for the remainder of the year.

Ireland’s percentage of the EU price has improved and is currently 105% of the EU average price as reported to the EU Commission for the week commencing 6/7/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending July 19th 2020 was 67375 head which was 203 less than the previous week and 3,113 more than in the corresponding week in 2019.

Export Plants: Top prices on a flat rate basis = €1.64/kg-€1.66/kg in Rosderra and Kepak, = €1.64/kg-€1.68/kg in Staunton’s and Dawn Pork & Bacon. Sows: €.54c/kg DW. Weekly Slaughtering’s: Week-ending 19/7/20 Pigs: 65,761 Sows: 1,614 EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 6/7/20 Irish price €1.62kg EU–27 average price €1.54kg (Grade E pigs - 55% to 60% lean meat excluding VAT but including transport and bonuses).

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