Pig Market Update 10th March
Following the extremely positive market sentiment right across the European pig market last week, there was a 4c/kg increase in the Irish pig price announced last Friday. This leaves the quotes from pig export plants ranging from €1.56/kg-€1.58/kg. Reports that €1.60/kg has been paid are becoming more common, and optimism that this price would become the standard quote from all main slaughter operations, is now expected from pig farmers. The 4c/kg improvement in the Irish price comes on the back of another 10c/kg increase in the German price and significant price increases in other main pig exporting countries. The backlog of German pigs that had been an overhang on the entire European marketplace since before Christmas, is expected to be completely cleared this week. This will leave all German pig processors anxious to secure pigs from a reduced supply base and prices are expected to increase further in the coming weeks. The total throughput remains strong in ROI with 73,271 total pigs processed last week, and an additional 9,000 exported to Northern Ireland for direct slaughter.
Ireland’s percentage of the EU price has improved and is currently 111% of the EU average price as reported to the EU Commission for the week commencing 22/2/2021.
Factory pig throughput in Republic of Ireland export plants for the week ending 7th March 2021 was 73,271 head which was 1,763 more than the previous week and 8,309 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.56/kg-€1.58c/kg in Rosderra, Staunton’s and Kepak </=€1.58/kg – €1.60/kg in Karro (Cookstown) and in Dawn Pork & Bacon.
Weekly Slaughtering’s Week-ending 7/3/21
EU-27 Pigmeat Reference Price Wk Commencing 22/2/21
Irish price: €1.51kg
EU–27 average price: €1.36kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).