20 Aug 2018
Increase in pig price required urgentlyPigs
IFA Pigs Committee Chairman Tom Hogan has called on all pig factory bosses to realise that they made a serious error of judgement when dropping pig prices by 4c/kg a few weeks ago. This needs to be reversed immediately and further increases are required as a matter of urgency.
Tom Hogan said, “The German pig market closely reflects the returns that Irish processors receive. It has experienced a dramatic lift in pig prices, from €1.40c/kg three weeks ago to €1.56c/kg this week and the short-term outlook remains upwards”.
He called on Irish pig processors to follow this leading European market. “The unfortunate reality is that even at these prices, all costs would not be covered but it is the first step on the road to stabilising a volatile market.”
Tom Hogan said that the seriousness of the situation on Irish pig farms has become alarmingly worse in recent weeks, with farmers losing up to 20c/kg on factory pigs. “This equates to a loss of over €16 on every pig produced. Costs are rising and the feed market is showing no signs of abating. Without a serious increase in the pig price now, the viability of many family pig farms will be called into question by their bank managers, and the outcome will not be a good one.”
The IFA Pigs Chairman also called on secondary processors, and retailers, to support local Irish pig farmers and purchase Bord Bia-approved Quality Assured pigmeat from certified plants. “It is heartbreaking to walk into a local retailer and see imported pigmeat on the shelf, displacing our own locally-produced pork and bacon. This practice displaces Irish pigmeat and jeopardises the entire industry which supports over 10,000 jobs in the country.”