Pig Market Update 18th May
There was no change in pig price quotes from factories once again this week. Current quotes range from as low as €1.68c/kg, but in reality, most farmers are taking home between €1.70c/kg up to €1.74c/kg. While it appears a reasonable price in comparison to the 5-year rolling average, it is dangerously close to the cost of production, which has risen rapidly on the back of high commodity feed prices.
Pig farmers have good reason to be optimistic about future and imminent pig price increases. The slow but hopefully sustainable reopening of foodservice across Europe, combined with BBQ demand, will see increased domestic consumption. Lower European production, largely due to the decreased German pig breeding herd, will see a shortage of EU pigmeat product to be exported. This reduced EU production, combined with the well documented strong demand from China and other Asian buyers, should see the European and Irish pigmeat market underpinned for the coming months, at and above current returns.
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
<=€1.70/kg -€ 1.74/kg in Staunton’s