Pig Market Update 21st October 2020
It was all systems go last week in the pig processing sector, with a high kill of 72,513, which is a significant increase on the previous number of weeks. With all main export plants having full Chinese approval to capitalise on the extremely high demand from China and other Asian customer’s, it is no surprises to see good demand from procurement managers and agents.
Every pig is leaving a positive margin for factories and it is clear that they want every pig they can put through their plant. It is a little disappointing not to see any official price increase, and official quotes remain from €1.60-1.62c/kg, but it is clear from reports to IFA that a number of deals well in excess of €1.62c/kg are being done. An increase of 2-4c/kg has been muted by many industry sources, especially to larger suppliers, but there seems to be a determination to hold official quotes. Tom Hogan said he will be in contact with the processors to insist that the market returns that the factories are enjoying are passed back to all farmers.