Pig Market Update 12th May
Pig price remain stable with no change in quotes from pig processors this week. While the Irish price is slightly above the EU average, there is positive signs that prices will move up again in responses to Covid-19 restrictions being eased and foodservice gradually opening up at last.
There was a reduced number of pigs processed last week due to the May bank-holiday, but demand has remained strong with any overhang expected to be cleared this week. While the market outlook remains positive, continued internal downward price pressure on pork in China has seen the import price become closely aligned to the domestic pork price, but still at high enough prices that could facilitate a return of close to €2/kg for European pigmeat. This price movement in China demonstrates the lack of control and knowledge that the pig industry has on the Chinese market. Their deficit in supply is underpinning the market, but the role of Bord Bia in securing additional long terms economically viable markets is as important now.
Top prices on a flat rate basis.
<= €1.68/kg-€1.72c/kg in Rosderra and Kepak
<=€1.72/kg – €1.76/kg in Karro (Cookstown)
<= €1.70/kg – €1.74/kg in Dawn Pork & Bacon
<=€1.68/kg -€ 1.74/kg in Staunton’s