Pig Market ReportsPigs

Pig Market Update 16th August

There was no announced change to Irish pig prices last Friday however farmers are reporting quotes of €2.38 – €2.42 and upwards available among Irish processing plants.

Some farmers are reporting further unannounced increases from various processing plants across the country which is reflective of the decline in supply of pigmeat in Ireland. 

The average European price for a grade E carcass pig for week 31 was 245.3c/kg which is 26% higher than prices for the same week last year according to the Commission.  

The weekly throughput for week ending August 13th was 53,418 of which 1,436 were sows.

Global wheat markets came under pressure from larger Russian crop forecasts. The USDA currently estimates the crop at 85.0 Mt, though the USDA excludes Crimea from its forecast. The market largely ignored the latest developments in the war; Russia fired ‘warning shots’ at a grain vessel reportedly headed for Ukraine (Refinitiv).

Paris rapeseed futures (Nov-23) fell €9.00/t yesterday to close at €447.25/t. The USDA reported bigger improvements in US maize and soyabean crop ratings than the market expected. The USDA rated 59% of the US maize crop as in good/excellent condition. The soyabean rating up to 59% good/excellent.

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