Further 10c Pig Price Cut Unwarranted

IFA Pigs Chair Michael Caffrey has strongly criticised the announcement of a further 10c/kg drop in pig prices, describing it as completely unjustified.

“This is the second week in a row that factories have imposed a 10c cut. That’s 20c/kg down in just two weeks at a time when pig supplies remain tight both in Ireland and across Europe,” Michael Caffrey said.

There has been no increase in sow herd numbers, and there is no oversupply in the market.

“Factories are fully aware of the scarcity that exists. These cuts are not based on market realities. Yes, there have been drops in prices in other EU member states, but none on the scale of the hit here,” he added.

“We are expected to invest in higher welfare standards, environmental improvements, and greater regulatory compliance, and we want to deliver on all these asks. But to do that, we need to be heading towards €3/kg, not facing cut after cut as we saw this week,” the IFA Pig Chair said.

He said these cuts have completely undermined farmer confidence in the sector with drops of this level unprecedented, especially during the summer months. “The fact that every processor moved at the same time should also prompt some investigation.”

“Factories need to reverse these cuts immediately. We have sought urgent meetings with processors to put the maximum pressure on them,” Michael Caffrey said.

“We are also working on setting up urgent meetings with retailers. Supply is tight, and they need pigs – these price drops must stop if we want a viable pig sector into the future,” he concluded.