No change in the Irish pig price which remains at quotes ranging from €1.70 up to €1.76c/kg. There is a strong supply of pigs with throughput running 3% ahead of 2020. 58,500 pigs were processed last week which was down from the more regular 70,000 figure, due to the June bank holiday.
A short working week causes a slight backlog in the pig processing supply chain which is easily managed, but the fact that one less working day can affect the subsequent weeks supply to processors does highlight that there is no spare capacity in the pig processing sector in Ireland today. While this is efficient and keeps production costs to a minimum, there is need for a contingency plan in the event of a processing site being out of action.
Regarding the trade, Irish farmers continue to look across the Celtic Sea to Spain where farmers are receiving above €2/kg for their pigs. The main driver of pig imports, China, has seen a decline in pig prices for the past four months and the US pig price is now above the Chinese domestic price. This may see a shift in the volumes of US imports into China in the months ahead.
Top prices on a flat rate basis.
<= €1.68/kg-€1.74c/kg in Rosderra and Kepak
<=€1.74/kg – €1.78/kg in Karro (Cookstown),
<= €1.72/kg – €1.76/kg in Dawn Pork & Bacon
<=€1.72/kg -€ 1.76/kg in Staunton’s