Pig and Pigmeat Market Report

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Pig and Pigmeat Market Report
27 May 2020

Pig and Pigmeat Market Report

Pigs

 

The situation for Irish Pig farms has gone from bad to worse in the past week, with further price reductions of 4c/kg. While price is down to around the average price across the EU of €1.64/kg, throughput remains a key concern to the industry. Pigmeat plants continue to experience difficulties due to Covid-19, and restrictions in place are slowing down production in both slaughter lines and boning halls.  The EU market appears to have bottomed out, with signs that production issues are being overcome, and a positive turn in the market. IFA Pigs Chairman, Tom Hogan said the fundamentals of the worldwide pigmeat market remain as they did pre Covid, very positive. There is worldwide shortage of pigmeat to meet demand and this pandemic will add to this shortage. Once production capacity is back working on full tilt in Ireland and across the EU, and more direct links back to the consumer resume, Hogan said that the demand will see pig prices return to levels experienced pre Covid.

Ireland’s percentage of the EU price has improved and is currently 108% of the EU average price as reported to the EU Commission for the week commencing 24/5/2020.

Factory pig throughput in Republic of Ireland export plants for the week ending May 24th 2020 was 63,501 head which was 1,776 less than the previous week and 3,019 less than in the corresponding week in 2019.

Export Plants:  Top prices on a flat rate basis </= €1.63/kg-€1.65/kg in Rosderra, Kepak, Staunton’s and Dawn Pork & Bacon.

Sows €.85c/kg to €1.00/kg DW.

Weekly Slaughtering’s:  Week-ending 24/5/20 Pigs: 61,674 Sows: 1,827

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 11/5/20

Irish price                                            €1.71kg

EU–27 average price                         €1.58kg

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

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