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 15, 2018

No change last Friday in any quotes for pigs from Irish factories. Irish pig farmers continue to lose money at an unsustainable rate, with the gap between the prevailing pig price of €1.38c/kg and the ever-rising cost of production, getting close to 20c/kg. An actual loss over the cost of producing a factory fit pig is at €14 per pig. No doubt the pig sector has seen turbulent times before and will again, but a low and falling pig price coupled with the soaring cost of grains, is jeopardising the viability of the sector. IFA Pigs Chairman Tom Hogan, again called on Minister for Agriculture to call an emergency meeting of all stakeholders in the sector immediately, to decide on positive actions to help save Ireland’s 3rd largest agricultural sector.

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 30/07/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending August 4th 2018 was 66,178 head which was 4,171 head more than the previous week and 3,260 more than in the corresponding week in 2017.

 Export Plants:  Top prices on a flat rate basis </= €1.38c/kg in Kepak, Rosderra, Staunton’s, Dawn Pork and Bacon and Cookstown.

Sows 55c/kg DW.

Weekly Slaughtering’s:  Week-ending 04/08/2018 Pigs: 66,178 Sows: 1,607

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 30/07/18

Irish price                                            €1.38kg

EU–27 average price                         €1.43kg

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

August 8, 2018

Pig prices remain below €1.40c/kg with €1.38c/kg the most common price quoted this week. The situation on pig farms has taken a double blow over the past two weeks, with the combination of a falling, below cost pig price and the ever-rising cost of feed. Spot prices for cereals have soared in recent days, and no long-term buying was conducted in recent days. The picture on feed cost will take a few weeks to settle once the main EU harvest is in and tonnage available is more evident. It is true to say that stocks will be tight in the 2018/2019 winter/spring season especially some cereal and protein by products, such as grains, pulp and hulls. On a slightly positive note, the falling pig price, has sparked an increase in the sale volumes of pork across the continent in recent days. Wholesalers and food service suppliers are back in the market in advance of the back to school season and the traditional increase in meat consumption market in September.

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 23/07/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending July 28th 2018 was 62,007 head which was 579 head more than the previous week and 548 less than in the corresponding week in 2017.

Export Plants:  Top prices on a flat rate basis </= €1.38c/kg in Kepak, Rosderra, Staunton’s, Dawn Pork and Bacon and Cookstown.

Sows 55c/kg DW.

Weekly Slaughtering’s:  Week-ending 28/07/2018 Pigs: 62,007 Sows: 1,456

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 23/07/18

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).

August 1, 2018

No good news this week again. After both Rosderra and Kepak reduced quotes by 4c/kg for last week’s kill, Dawn and Staunton’s did likewise last Friday. With a high price of €1.38c/kg, and some pig farmers taking less than this, the financial situation on all pig farms is deteriorating by the week. Credit for feed is at a greater time length than either compounders or farmers would like and the months ahead don’t look like giving much of a reprieve. At current margins over feed cost declining towards a paltry 30c/kg, farmers are losing serious money with every pig sold. The pig industry has been here before and the tide will turn, but will it improve in time for all pig farmers in current production to survive? IFA Pigs Chairman Tom Hogan said he will consult all stakeholders, including Teagasc, the banks, feed merchants and providers, the primary and secondary pigmeat processors and the retailers. “Everybody involved in our business is under pressure and it is only by working together that our industry has a chance of survival”.

Ireland’s percentage of the EU price has improved and is currently 97% of the EU average price as reported to the EU Commission for the week commencing 16/07/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending July 21st 2018 was 61,428 head which was 2,568 head less than the previous week and 2,674 less than in the corresponding week in 2017.

Export Plants:  Top prices on a flat rate basis </= €1.38c/kg in Kepak, Rosderra, Staunton’s, Dawn Pork and Bacon and Cookstown.

Sows 55c/kg DW.

Weekly Slaughtering’s:  Week-ending 21/07/2018 Pigs: 61,428 Sows: 1,732

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 16/07/18

Irish price                                            €1.41kg

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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