There was no change in Irish pig price last week. Farmers are now receiving quotes ranging from €2.06c/kg up to €2.14/kg from processing plants, however some farmers are reporting quotes of €2.20/kg and above in some cases.
The weekly throughput for week ending the 17th of September was 64,884 which is -7% on the same week last year. The supply of pigs is tightening and while the lack of supply hasn’t hit the market yet, the tightening in slaughter numbers is evident across Europe where the average price for a grade E carcass is 52.2% higher than it was this time last year.
Just over 145 Irish pig producers received payment from the Pig Exceptional Payment Scheme. This financial aid had homes before it was received and could not come quick enough to farmers. Most producers will have used it to reduce feed credit. While welcome by successful applicants who received their payments, the extreme losses which Irish pig producers have been haemorrhaging remain. Feed costs have increased over €200/tonne since Sept 2020. Non feed costs are at an all-time high and are likely to increase further due to the increasing cost of energy. Currently we are looking at 400% + increase on 2021 prices. Most farmers that have finished contracts are on variable prices, but it’s from now onwards, on winter rates, that it will really impact.