Pig and Pigmeat Market Report.

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Pig and Pigmeat Market Report.
04 Mar 2020

Pig and Pigmeat Market Report.

Pigs

Another disappointing development to the Irish pig trade with all processors taking the decision to drop the pig price by 4c/kg. This leaves suppliers to Rosderra and Kepak receiving €1.88-1.90/kg, with suppliers to both Dawn Pork & Bacon and Staunton’s 4c/kg better in general. Justifying the price drop, the effect that Coronavirus is having on the pigmeat trade to China was blamed. They reported a build-up of stocks of pork destined for the high value Chinese market, that are unable to set sail in a timely manner due to trade disruption caused by the human virus. This product is holding up valuable chill space for processors, and will, according to factory bosses, have to be offloaded at less than anticipated prices, depending on the evolving worldwide health scare.  IFA Pig Chairman, Tom Hogan said in a statement that now was not the time to drop the pig price with EU markets having all improved. He continued, IFA will meet processors this week to ensure fairness for Irish pig farmers and no overreaction to the Coronaviruses situation.

Ireland’s percentage of the EU price has improved and is currently 101% of the EU average price as reported to the EU Commission for the week commencing 17/2/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending February 29th 2020 was 63,856 head which was 1,952 less than the previous week and 4,964 less than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.88-€1.90/kg in Rosderra and Kepak,</= €1.90/kg in Staunton’s and </= €1.92/kg in Dawn Pork & Bacon.

Sows €1.20/kg DW.

Weekly Slaughtering’s:  Week-ending 29/2/20 Pigs: 63,837 Sows: 1,550

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 17/2/20

Irish price                                            €1.91kg

EU–27 average price                         €1.88kg

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

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