The Irish pig price remains at €1.42/kg for another week. Feed cost rises have at this stage, been passed back to all pig farmers, with some having hedged at 2017/18 prices, getting big feed cost increases to today’s global grain markets, which are up over €50/tonne than prices secured 12 months ago.
Pig farmers are well used to fluctuations in both feed and pig prices, but even the most resilient businesses can only operate for a short period of time when both markets go against them. Feed costs now make up to €1.20c/kg cost of producing pigmeat in Ireland, with the average price received just 22c/kg above feed cost, it is clear that without a major uplift in pig price, the Irish pig production sector is in jeopardy. African Swine Fever in both Asia and continental Europe, and international trade disputes and tariffs, will have a major influence, hopefully positive for Ireland in the coming weeks and months.
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 15/10/2018.
Factory pig throughput in Republic of Ireland export plants for the week ending October 27th 2018 was 63,777 head which was 3,073 head less than the previous week and 2,325 more than in the corresponding week in 2017.
Export Plants: Top prices on a flat rate basis </= €1.42c/kg in Kepak, Rosderra, Staunton’s, Dawn Pork and Bacon and Cookstown.
Sows: 55c/kg DW
Weekly Slaughterings: Week-ending 27/10/2018 Pigs: 63,777 Sows: 1,774
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 15/10/18
Irish price €1.40kg
EU–27 average price €1.38kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).