Pig Market Update 11th August
Further woes in the Irish pig sector with another 4c/kg reduction, leaving the lowest quotes dropping below €1.60c/kg, with Rosderra and Kepak down as low as €1.58c/kg base quotes this week. Reasons behind this latest price drop are poor market demand, but the reality is the domestic market remains stable, but pigmeat is a commodity and we can only be so far above other EU markets.
Disastrous prices, as low as €1.40c/kg have become a reality in some pig producing countries across Europe. The extreme volatility of pig production is never more evident than with the Spanish pig price which hit highs of over €2/kg in May. It is now dropped back to the Irish price point, a 40c/kg drop all when the cost of production is soaring. While farmers can wear this for a time with dry grains and maize trade below €200 per tonne, margins are squeezed into negative territory at the current high feed prices.
Top prices on a flat rate basis.
<= €1.58/kg-€1.62c/kg in Rosderra and Kepak
<=€1.62/kg – €1.64c/kg in Karro (Cookstown),
<= €1.62/kg – €1.66/kg in Dawn Pork & Bacon
<=€1.62/kg -€ 1.66/kg in Staunton’s