Pig Market Update 11th May
Irish pig price was unchanged this week with farmers are receiving quotes of €1.66c/kg up to €1.70 or €1.72 – €1.76/kg. The IFA Pigs Committee began a sustained campaign to get the price of pigmeat increased in the domestic market urgently. The committee arranged its first protest of the campaign last Thursday at Carroll Cuisine in Tullamore, which resulted in a commitment from Carroll Cuisine to do everything they can to ensure their suppliers farmers get €2/kg by the 1st of June.
On Tuesday, protests were held at 4 other secondary processors; Oliver Carty Meats in Athlone, Oakpark Foods in Cahir, Connolly’s Pork and Bacon in Monaghan and Pilgrim Food Masters in Shillelagh. Commitments were made at processors of loyalty to Irish product and that increases would not be resisted.
The average cost of feed on a c/kg basis is c. €1.69 / kg according to Teagasc, while there are farmers with considerably higher feed costs depending on how they have bought forward. Farmers simply cannot continue to produce pigs at such grave losses and must have their Margins recovered.
The European market prices have levelled slightly, and dropped in some cases because of a fluctuation in demand although for Spain, France and the UK, their price is over €2.00/kg. The average Irish price is circa 30c/kg behind those countries presently.