Pig Market Commentary

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

March 31, 2020

All processors held quotes this week, following the trend across the EU, with the market stabilising, albeit at lower prices than anticipated before the Coronavirus disrupted worldwide trade. What is clear after the past two weeks of turmoil, the foodservice sector is effectively reduced to a small percentage of what is was consuming, and not just in Ireland but across the globe. Retailer demand has jumped significantly, but this demand comes with more stringent specifications, and demand is not universal across the entire pig carcass. Regarding the valuable trade to Asia, there is positive news emerging that orders are starting to come into Europe for volume of pigmeat again, and the priority must be to get these distribution channels back flowing again. The importance of keeping the processing sector operating is vital, and IFA will continue to liaise with the DAFM and processors to ensure this happens.

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 16/3/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending March 29th 2020 was 71,670 head which was 12,362 more than the previous week and 2,850 more than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.84/kg in Rosderra and Kepak,</= €1.84-€1.86/kg in Staunton’s and </= €1.88/kg in Dawn Pork & Bacon.

Sows €1.10/kg DW.

Weekly Slaughtering’s:  Week-ending 29/3/20 Pigs: 70,710 Sows: 1,960

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 16/3/20

Irish price                                            €1.85kg

EU–27 average price                         €1.89kg

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

 

March 24, 2020

A week of turmoil for all agricultural sectors, but the pig sector had a serious disease scare, combined with the continued negative impact of Covid-19.  Downward pressure continued on pigmeat markets, with the closedown of the foodservice sector.  All main pig factories dropped the price by another 4c/kg leaving this week’s quotes from a low price of €1.84/kg in Rosderra and Kepak with up to €1.88/kg still being given to suppliers of Dawn Pork & Bacon. This downward price pressure has seen similar trends across the EU, but the strong retail demand is expected to stabilise the markets and the pig price. IFA Pig Chairman, Tom Hogan said that this strong demand from retailers will ensure that the pig price doesn’t fall any further. The importance of keeping the sector operating is vital, and IFA will continue to liaise with the DAFM and processors to ensure this happens.

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 9/3/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending March 21st 2020 was 59,308 head which was 12,300 less than the previous week and 9,730 less than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.84/kg in Rosderra and Kepak,</= €1.84-€1.86/kg in Staunton’s and </= €1.88/kg in Dawn Pork & Bacon.

Sows €1.10/kg DW.

Weekly Slaughtering’s:  Week-ending 21/3/20 Pigs: 57,856 Sows: 1,452

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 9/3/20

Irish price                                            €1.86kg

EU–27 average price                         €1.94kg

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

March 18, 2020

There’s only one story dominating all markets, including the pigmeat market this week, Coronavirus. Market forces generally dictate the price of food, but it’s the value of food rather than the price, that has risen to the fore in the past week. Its this newly recognised value on the availability and need for food that will underpin the value and hence the price that consumers will pay for their food. The need for the pigmeat supply chain to be maintained was never greater, with five processing plants in ROI handling the vast majority of Irelands 70,000 weekly pig supply. Pig farmers are receiving steady quotes again this week, from a low of €1.88/kg up to €1.92/kg. Volatility in other European markets is set to continue again this week, with increases in pig prices expected to send pig prices back over €2/kg, as many countries try to secure their own food supply lines in these unchartered environments.

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 2/3/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending March 16th 2020 was 71,608 head which was 8,546 more than the previous week and 2,570 more than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.88-€1.90/kg in Rosderra and Kepak,</= €1.90/kg in Staunton’s and </= €1.92/kg in Dawn Pork & Bacon.

Sows €1.20/kg DW.

Weekly Slaughtering’s:  Week-ending 7/3/20 Pigs: 63,062 Sows: 1,900

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 2/3/20

Irish price                                            €1.86kg

EU–27 average price                         €1.95kg

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

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