There was no announced change to Irish pig prices last Friday however farmers are reporting quotes of €2.38 – €2.42 and upwards available among Irish processing plants.
Some farmers are reporting further unannounced increases from various processing plants across the country which is reflective of the decline in supply of pigmeat in Ireland.
The average European price for a grade E carcass pig for week 30 was 289.8c/kg which is 28.6% higher than prices for the same week last year according to the Commission.
AHDB reports that Chicago maize and soyabean futures prices fell due to improved US crop conditions. Reports of good yield results for both Ukraine and Russia suggest larger crops. Total grain supplies for 2023/24 look comfortable due to the large global maize crop forecasts. In peacetime, crops of this magnitude would usually mean pressure on all grain prices as wheat and barley lose animal feed demand to maize. But how much of this pressure we see depends on the war.