Pig and Pigmeat Market Report

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Pig and Pigmeat Market Report
15 May 2019

Pig and Pigmeat Market Report

Pigs

The Irish pig market remains buoyant with good demand from all processors on the back of improving pork markets, especially the export market. Last week’s kill of 55,000 in a short working week, is down about 4% on the corresponding bank holiday week in 2018. This small but very significant reduction in pig throughput is beginning to be replicated right across the main pig producing and exporting countries of the EU. A 2-4% reduction in production combined with the well-publicised increase in demand from China is going to lead to improving returns for processors and pig prices will rise further in the coming weeks. The German pig market, which is reflective of the Irish production and export dynamics in many ways, increased again last week to hit €1.78c/kg. IFA Pig Chair Tom Hogan said that we should be receiving at least this price and he called on all pig factories to raise their quotes to €1.80.

Ireland’s percentage of the EU price has improved and is currently 94% of the EU average price as reported to the EU Commission for the week commencing 29/4/2019.

Factory pig throughput in Republic of Ireland export plants for the week ending May 11th 2019 was 54,992 head which was 10,545 head less than the previous week and 498 more than in the corresponding week in 2018.

Export Plants: Top prices on a flat rate basis </= €1.72/kg in Staunton’s and Dawn Pork & Bacon, >/= €1.70/kg-€1.74/kg in Rosderra and Kepak.

Sows 0.90-0.95c/kg DW.

Weekly Slaughtering’s:  Week-ending 11/5/2019 Pigs: 53,251 Sows: 1,741

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 29/4/19

Irish price                                            €1.60kg

EU–27 average price                         €1.70kg

(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).

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