The Irish pig price increased 4c/kg on Friday last with farmers receiving quotes of €2.06c/kg up to €2.10/kg from processing plants. The 4c increase is welcomed by farmers although given the losses which have been and continue to mount on Irish pig farmers over the past 12months more upward movements are needed to return farmers to profitable margins. It will take quite some time to recoup the losses which have been incurred to date.
The first shipment of grain has arrived in to Foynes Port Limerick from Ukraine since the outbreak of war which marks a significant milestone with trade between Ukraine and Ireland resuming, but also a significant step forward for global markets.
European pig price continues to increase as pig supply tightens. The French pig price is now at €2.40/kg, up 10c on last week and the Spanish price at €2.22/kg while the UK pig price is at €2.39/kg (up 5c on last week).
Matif September 2022 delivery wheat and maize remain in the region of €300-€335/tonne. There were concerns over the drought in the US in particular in the key maize growing states but thankfully there have been showers which eased some concerns around this year’s crop. Shipments continue to be exported from Ukraine. As of Friday, 27 shipments had left Ukraine since the opening of the grain corridor.