Pig Prices Up 4c/kg in July
It was another positive week for pig farmers, with demand from all processors forcing the trade to continue its slow upward trend.
No official price rises were reported but pig prices reported by the Department of Agriculture show that prices have continued to increase and have moved on by 4c/kg in the month of July. Pig farmers report prices from a low of €1.72 up to €1.76c/kg buying the majority of pigs this week. Strong demand from processors for the last few loads of pigs to fill their weekly demand resulted in stronger prices for some spot loads and prices up to €1.80c/kg have been reported. The future outlook for the pig market has improved as a result of the recent EU-Japanese trade agreement which will see all EU pigment imports including Irish pigmeat, into Japan attract reduced tariffs from 2018 onwards.
Ireland’s percentage of the EU price has improved and is currently 98% of the EU average price as reported to the EU Commission for the week commencing 10/07/2017.
Factory pig throughput in Republic of Ireland export plants for the week ending July 16th 2017 was 58,886 head which was 652 head less than the previous week and 1859 less than in the corresponding week in 2016. Slaughtering’s in ROI export plants is -0.9% behind the same period in 2016.
Export Plants: Top prices on a flat rate basis </= 174cent/kg in Karro, Staunton’s and Dawn, </=172 to 174cent/kg in Kepak and Rosderra.
Sows: 95 – 110c/kg DW.
Weekly Slaughterings: Week-ending 16/07/2017 Pigs: 58,886 Sows: 1,605
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 10/07/17
Irish price €1.69kg
EU–27 average price €1.73kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).