Pig Market ReportsPigs

Pig Market Update 22nd May

There was no announced change to Irish pig prices on Friday. Some producers are reporting an increase of 2c/kg and farmers are reporting quotes of at least €2.25 – €2.30 available from processors in ROI, with some reporting up to €2.33/kg, signalling a strong demand for pigs.

The average European price for a grade E carcass pig for week 19 was €2.19/kg (excluding vat), which, according to the Commission, is still behind by 8% on prices for the same week last year and is level with last month’s average EU grade E carcass price. EU pigmeat prices  are expected to steadily increase over the coming weeks due to higher demand for produce.

Feed wheat futures are showing signs of volatility currently with  weather concerns in major producing countries, including top supplier Russia, continuing to influence wheat price direction globally. It seems that due to weather concerns, traders, including investment funds, have been buying grain and oilseed futures. This has likely contributed to the rises in prices over recent weeks and again yesterday according to AHDB.

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