More downward price pressure for the majority of Irish pig farmers with announcements by Rosderra, Kepak and Cookstown in NI, of 4c/kg price reductions. This leaves farmers suppling these plants receiving from as low as €1.56c/kg-1.58c/kg this week.
The poor market situation across Europe was given as the reasoning behind this latest price drop. The exclusion of all Germany pork from the Chinese market has left its pig price stagnant, below the cost of production at €1.27c/kg for 2 months now, and worryingly a big backlog of pigs still remains. Market access issues combined with continued production delays in some German slaughter plants due to Covid-19 is a big drag on the entire European market. IFA Pig Chairman, Tom Hogan condemned these latest cuts and said the plants that dropped price were being opportunist and that the Irish market conditions were much more favourable compared to mainland Europe. Both Staunton’s and Dawn Pork & Bacon continued to pay €1.64c/kg to suppliers this week leaving a major unexplained price differential in our own market.