The Irish pig price remains stable at €1.52-1.54/kg in most quotes this week. In comparison to this week last year, the pig price in Ireland has reduced by 40c/kg. This has resulted in a massive €13,000 per week income reduction for the average pig farm in Ireland. The price reduction when looking at the EU average pig price has reduced by 58c/kg, which is €48 for every fat pig. Combined with the increase in all feed stuffs, soyabean meal in particular, this has left pig farmers back at break-even. Not a great position but the outlook is improving. Demand throughout Covid from the retail sector has increased by circa 20%, which has almost offset the reduction from the decimated foodservice sector. Our export markets have maintained demand and even improved, especially China, which traditionally witnesses a drop off in demand after Christmas in January and February. While the German pig price remains static at €1.20c/kg, there is a noticeable and welcome reduction in the backlog of pigs for slaughter.
Ireland’s percentage of the EU price has improved and is currently 118% of the EU average price as reported to the EU Commission for the week commencing 1/2/2021. Factory pig throughput in Republic of Ireland export plants for the week ending February 14th 2021 was 71,654 head which was 1,219 less than the previous week and 4,460 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.52/kg-€1.54c/kg in Rosderra, Staunton’s and Kepak </=€1.54/kg – €1.56/kg in Karro (Cookstown) and in Dawn Pork & Bacon.
€0.54-0.60 c/kg DW.
Weekly Slaughtering’s Week-ending 14/2/2021
EU-27 Pigmeat Reference Price Wk Commencing 01/02/2021
Irish price: €1.52kg
EU–27 average price: €1.28kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).