Failure to Increase Pig Price Very Disappointing
There was no official increase in the Irish pig price again this week; most suppliers are receiving around the €1.40c/kg mark for their pigs, but there is considerable variation above this price point.
Many suppliers who have bargained hard with their factory received increases of 2-4c/kg over the past two weeks. All signs still indicate that market returns justify a significant price increase to a minimum price of €1.50c/kg.
It is clear that the main export plants have a target of holding official quotes at current levels until the end of March, but industry sources indicate that all pig processors definitely have the ability to increase prices now.
The backlog of pigs created by Storm Emma two weeks ago has been cleared, and this is testimony to the good demand for pigmeat, both in the domestic and export markets.
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 26/02/2018.
Factory pig throughput in Republic of Ireland export plants for the week ending March 10th 2018 was 72,970 head which was 31,176 head more than the previous week and 9,758 more than in the corresponding week in 2017.
Export Plants: Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, and Stauntons and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon and Cookstown.
Sows: 65– 75c/kg DW.
Weekly Slaughterings: Week-ending 10/03/2018 Pigs: 72,970 Sows: 2,385
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 26/02/18
Irish price €1.38kg
EU–27 average price €1.41kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).