Pig Market ReportsPigs

Pig Market Update 22nd November

There was no change to Irish pig prices on Friday last with farmers reporting quotes of €2.14 – €2.18 available from processors in ROI.  

The average European price for a grade E carcass pig for week 45 was €2.12/kg which is 7.3% higher than prices for the same week last year according to the Commission, however, it is back -4% on last month’s prices and is level with the previous weeks average price. This is the first time in circa 12 weeks where the average price hasn’t fallen from week to week suggesting that there may be an easing of decreasing prices.

The weekly throughput figures for ROI for week ending the 19th of November was 65,922 of which 1,678 were sows.

 Soya prices remain very high this week however, a report by USDA suggests that world soybean production for the 2023/24 season is forecast to increase by 7.6% compared to the previous season, going from 372.2 to 400.4 Mt. 

Exports would be led by Brazil with 97.5Mt, up 2.1% compared to the previous season (95.5 Mt), while the United States would reach an export volume of 47.8 Mt, a decrease of -11.9% compared to the last harvest (54.2 Mt). Argentina is projected to export 4.6 Mt, which would mean an increase of 9.9% (4.2 Mt). Between those 3 areas that would mean that it is expected they would export -4 MT less than previous season. 

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