Pig and Pigmeat Market Report

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Pig and Pigmeat Market Report
31 Mar 2020

Pig and Pigmeat Market Report

Pigs

All processors held quotes this week, following the trend across the EU, with the market stabilising, albeit at lower prices than anticipated before the Coronavirus disrupted worldwide trade. What is clear after the past two weeks of turmoil, the foodservice sector is effectively reduced to a small percentage of what is was consuming, and not just in Ireland but across the globe. Retailer demand has jumped significantly, but this demand comes with more stringent specifications, and demand is not universal across the entire pig carcass. Regarding the valuable trade to Asia, there is positive news emerging that orders are starting to come into Europe for volume of pigmeat again, and the priority must be to get these distribution channels back flowing again. The importance of keeping the processing sector operating is vital, and IFA will continue to liaise with the DAFM and processors to ensure this happens.

Ireland’s percentage of the EU price has improved and is currently 97% of the EU average price as reported to the EU Commission for the week commencing 16/3/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending March 29th 2020 was 71,670 head which was 12,362 more than the previous week and 2,850 more than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.84/kg in Rosderra and Kepak,</= €1.84-€1.86/kg in Staunton’s and </= €1.88/kg in Dawn Pork & Bacon.

Sows €1.10/kg DW.

Weekly Slaughtering’s:  Week-ending 29/3/20 Pigs: 70,710 Sows: 1,960

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 16/3/20

Irish price                                            €1.85kg

EU–27 average price                         €1.89kg

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

 

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