Pig and Pigmeat Market Report

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Pig and Pigmeat Market Report
11 Mar 2020

Pig and Pigmeat Market Report

Pigs

The Irish pig price has settled this week, albeit at lower than what pig farmers had anticipated they would be receiving for their pigs a few weeks ago. IFA Pigs Chairman, Tom Hogan met with, and spoke with all main processors in recent days, reiterating the IFA response to recent cuts to the pig price. As all processers confirmed, the fundamentals of the world pigmeat market remain very good for an exporting country, with major deficits in China. The Coronaviruses has impacted on the ability of logistics to operate as they normally would. Delays in shipping, road haulage and secondary processing in China have all held up consignments heading from Ireland and the EU to China. There is a temporary backlog due to the Coronavirus impact, but the demand for product remains as high as ever and will return, the only question is when.

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 24/2/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending March 7th 2020 was 63,062 head which was 794 less than the previous week and 36 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 7/3/20 Pigs: 63,062 Sows: 1,900

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 24/2/20

Irish price                                            €1.91kg

EU–27 average price                         €1.93kg

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

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