There was no change in Irish pig prices on Friday last following the previous week’s drop of 4c/kg, with producers reporting quotes ranging from €2.06 – €2.10 available from processors in ROI. It’s worth noting that there is good demand for pigs and some farmers have reported some small unannounced increases available.
The EU average price for week 3 for grade E carcass was 183c/kg excluding vat. This represents a –2.6% change in last week’s prices and is -4.9% behind prices for the same month last year. Germany, due to foot and mouth cases, have experienced significant declines in pig prices over the past weeks.
Outside of Europe, the potential implementation of a 25% tariff on all Canadian imports to the U.S. on February 1st is causing concern among Canadian pork producers, particularly in Manitoba, where 40% of pig production is exported south. The tariff threat, imposed by President Trump as a response to illegal immigration and fentanyl trafficking, could significantly impact pig farmers’ revenues and disrupt trade. A tariff dispute could also affect industries like potash exports, crucial for U.S. crop fertilization, making alternative sourcing difficult and costly. The situation remains uncertain, with both Canadian producers and U.S. buyers waiting to see how trade relations unfold.
