Pig and Pigmeat Market Report

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Pig and Pigmeat Market Report
17 Jul 2019

Pig and Pigmeat Market Report

Pigs

All factories reduced their pig price down 4c/kg last Friday for this week’s pigs. The reason given by processors were the sluggish export market and the negative effect that the recent upsurge in pig price has had on demand. The main driver of the world pig price increase since April this year, the Chinese market, has resisted the most recent product price increases from EU exporters. Pork available from North and South America, even with trade tariffs applied, has become competitive against EU imports. The future outlook remains positive for the Irish pig price in the months ahead as demand will peak due to the reduction in domestic production in China and other ASF affected countries. After this price drop, farmers report prices ranging from €1.74c/kg to €1.76c/kg in the main. Supply to Irish factories remains tight with 64,262 killed last week.

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 01/07/2019.

Factory pig throughput in Republic of Ireland export plants for the week ending July 13th 2019 was 64,262 head which was 178 head more than the previous week and 266 more than in the corresponding week in 2018.

Export Plants:  Top prices on a flat rate basis </= €1.74-€1.76/kg in Staunton’s, Dawn Pork & Bacon, Rosderra and Kepak.

Sows €1.00/kg DW.

Weekly Slaughtering’s:  Week-ending 13/7/2019 Pigs: 62,747 Sows: 1,515

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 01/07/19

Irish price                                            €1.74kg

EU–27 average price                         €1.78kg

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

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