The EU pig price is slowly stabilizing with the Irish pig price trailing our European counterparts by 14c/Kg. The Irish pig production forecast is likely to reduce by 8.5% for this year on 2022. This is the largest drop forecast of any European country.
“The average European pig price for last week’s pigs was reported at €2.42/kg which is significantly ahead of the Irish average price at €2.28/kg. This trend must be reversed by raising the price paid to Irish farmers for their pigs to bring them above the EU average,” said IFA National Pig Committee Chair Roy Gallie.
“The recovery of the Irish pig industry from the recent period of two years of sustained loss-making hangs in the balance,” he added.
The average pig farm of 600 sows with large accrued debts must be allowed to recover before the next period of instability comes upon us. Irish pig farms cannot do this while Irish prices trail our European counterparts.
“We are calling on the processors to increase pig price for next week’s pigs as we must bridge this gap to ensure a sustainable future for the industry,” he concluded.