Pig Market Update 15th March
Irish pig prices remain unchanged in ROI plants this week with farmers receiving quotes of €1.40c/kg up to €1.44 or €1.46 – €1.50/kg.
Exceptionally high feed prices continue to deplete pig farmers margins. The pig price on a c/kg basis is only just covering feed costs. Farmers find themselves with additional pressure mounting at present with unprecedented feed costs and with further increases in feed prices expected for the month of April. With input costs reaching new extremes, farmers non-feed input costs are likely to take a hit largely in terms of energy costs, and fuel in particular.
Most European MS pig meat prices have seen upward price movement in particular over the past number of weeks. For instance, the German pig price is now at c. €1.75/kg carcass weight, while significant improvements have also been seen in their sow price which is now at c.€1.10/kg carcass weight. The first time the sow price has crossed the €1/kg in 2 years.
The upward movement across EU is certainly encouraging but prices must move on significantly more to ensure a healthy margin for farmers.