Pig Market Commentary

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

October 18, 2017

There is no official movement of pig prices from the main export plants again this week, with prices remaining in the region of €1.58c/kg. The recent price reductions have come as a stark reminder to Irish pig farmers of the fickle nature of the business in a country where the number of pig farmers continues to reduce. With the price remaining below €1.60c/kg, the confidence that had being built within the pig sector has quickly eroded in recent weeks. On a positive note, price reductions have abated across the main pig producing countries of the EU and many reports suggest a long term stabilisation of pig prices with some talk of slight increases in the final weeks of 2017. Ex-Hurricane Ophelia caused some disruption to processing of pigs on Monday and many older pig units in the Munster region suffered some damage.

Ireland’s percentage of the EU price has improved and is currently 100% of the EU average price as reported to the EU Commission for the week commencing 02/10/2017.

Factory pig throughput in Republic of Ireland export plants for the week ending October 7th 2017 was 63,482 head which 1,481 head less than the previous week and 2,216 more than in the corresponding week in 2016.   Slaughtering’s in ROI export plants is 0.6% behind the same period in 2016.

Export Plants:  Top prices on a flat rate basis </= €158 cent/kg in Dawn, Staunton’s Kepak and Rosderra and </= 160 cent/kg in Karro.

Sows 95 – 110c/kg DW.

Weekly Slaughtering’s:  Week-ending 07/10/2017 Pigs: 63,482 Sows: 1,861

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 02/10/17

Irish price                                            €1.54kg

EU–27 average price                         €1.54kg

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

October 10, 2017

The Irish pig price remains stable at €1.58c/kg this week. Spot loads have been paid in excess of this price and there are many suppliers that have done deals to supply pigs to their processor at higher prices. Official prices reported to the Department of Agriculture show that prices are down on the same week in 2016, and as all pig producers will know only too well, 2016 was a particularly difficult year for pig farmers.  While prices have been generally positive for the first half of 2017, no pig farmer is generating profit at today’s current prices. IFA Pigs Chairman, Tom Hogan, called on all stakeholders in the industry, and Government to be cognisant of the delicate financial position of Irish pig producers.  Hogan also commented on the very worrying reports circulated last week of pigmeat being included in the latest offer to South Americans in the Mercosur trade negotiations. Any inclusion of pigmeat would jeopardise our indigenous EU production.

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 25/09/2017.

Factory pig throughput in Republic of Ireland export plants for the week ending September 30th 2017 was 64,963 head which 1,401 head more than the previous week and 4,058 more than in the corresponding week in 2016.   Slaughtering’s in ROI export plants is 0.5% behind the same period in 2016.

Export Plants:  Top prices on a flat rate basis </= €158 cent/kg in Dawn, Staunton’s Kepak and Rosderra and </= 160 cent/kg in Karro.

Sows 95 – 110c/kg DW.

Weekly Slaughtering’s:  Week-ending 30/09/2017 Pigs: 64,963 Sows: 1,887

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 25/09/17

Irish price                                            €1.58kg

EU–27 average price                         €1.59kg

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

October 3, 2017

Disappointing news for all pig farmers last Friday with the announcement by pig processors of a 4c/kg reduction to be imposed on this week’s pig price. This leaves the average pig price in the region of €1.58c/kg. IFA Pigs Chairman Tom Hogan said that pig farmers were very disillusioned by the severity of the recent price cuts and he said that explanations given by procurement managers didn’t warrant anything like the price reduction which Irish pig farmers have had imposed upon them.   He called on the pig processing sector to recognise the need for stability and the fundamental need for a sustained period of positive margins to allow pig farmers to fill the financial holes that were left in 2015-16.

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 18/09/2017.

Factory pig throughput in Republic of Ireland export plants for the week ending September 23rd 2017 was 63,562 head which 330 head more than the previous week and 2,302 more than in the corresponding week in 2016.   Slaughtering’s in ROI export plants is 0.3% behind the same period in 2016.

Export Plants:  Top prices on a flat rate basis </= €158 cent/kg in Dawn, Staunton’s Kepak and Rosderra and </= 160 cent/kg in Karro.

Sows 95 – 110c/kg DW.

Weekly Slaughtering’s:  Week-ending 23/09/2017 Pigs: 63,562 Sows: 1,678

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 18/09/17

Irish price                                            €1.57kg

EU–27 average price                         €1.63kg

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

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