Pig Market ReportsPigs

Pig Market Update 20th July

Irish pig prices increased by 4c/kg last Friday with farmers receiving quotes of €1.94c/kg up to €1.98 or €1.96 – €2.00/kg. Farmers selling pigs to the north for slaughter are receiving quotes of circa €2.00/kg.

The weekly throughput for week ending 17th of July was 67,127. A decline in cereals prices was evident last week. The prospects of an agreement between Russia and Ukraine are reassuring which could lead to export activity resuming. However, these discussions still need to be finalised and an agreement reached in order to create favourable conditions for the resumption of shipments.

European Pig Prices are averaging for the Grade E & S Carcass at €1.98/kg for week 27. This is an increase of 3% in 4 weeks and when compared with last year, an increase of 21.5% – however, with input costs having escalated, hampering margins, farmers need further increases delivered at farm gate level urgently.

Teagasc cashflow shows that the average size farm of 600 sows will lose circa €360,000 in 2022. Break-even costs are at €2.20/kg and for some it may be higher depending on how they have forward bought feed.

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