IFA National Pig Committee Chairman, Roy Gallie said that “pig supply for slaughtering is extremely tight and there is massive competition among processors for supply. A substantial price increase is justified immediately to help offset continuing increases in cost of production”.
The Irish Pig Price is currently at €2.02/kg – €2.06/kg which remains below the average break-even figure of €2.20/kg. The European Commission data as of the 10th of August demonstrates that the US average price is at €2.74/kg. Irish exports of pigmeat to the United Stated are up 25% on last year according to Bord Bia.
Data from the European Commission shows that EU slaughtering’s are down -4.2% in the four month period from January to April 2022, while the tonnes of pork produced are down -5%.
Experts predict a substantial decrease in production in China with reports from China saying the breeding herd has decreased by 20% (-8 million sows).
Chinese pig price has almost doubled since March from €2.20/kg to €4.00/kg today (Prices on the 15th of July reached €4.32/kg).
“Farmers need to consider all options when selling pigs as competition is tight and price increases are more than justified” Roy Gallie said.