Pig Market Update 10th November
The Irish pig price held stable this week. Farmers are now receiving quotes ranging from €1.44c/kg up to €1.48 or €1.46 – €1.50/kg for some this week. Throughput last week came in at 74,486 total.
The EU pig meat market appears to be stabilising with prices unchanged from the previous week in the main. The Chinese pig price has seen an increase over the past number of days at prices of 17.47 RMB/kg carcass weight which would equate to about €2.95/kg DW.
Farmers are raising concerns on the increase in the cost of production over the past 12 months, in particular, with the price of feed. For instance, pig farmers who are home millers of feed and exposed to current markets are reporting cost increases of over €90/Tonne on this month last year.
This is a feed cost increase of 30c/Kg Deadweight alone, but all other major costs are increasing considerably too – Electricity, Gas & Oil, Labour and Transport etc.
Huge losses are being taken on farms, with little respite in sight for producers at the moment.