Pig Market Update 23rd December
The Irish pig price remains stable at 1.56/kg-€1.60/kg. No change in the pig price is expected for the coming two weeks until full processing is opened again and the price is set on Friday 8th January ’21 for the following week. Reviewing the year, while not nearly as good as expectations, it was on average a good year for pig farmers with the factory price covering all feed and fixed costs and leaving a sustainable margin. The pressures that lie ahead are not unusual for the pig sector with market price pressure and rising feed costs going to leave the first half of 2021 a tight year for Irish pig farmers. The outlook does remain positive, with the EU remaining to be the single largest exporter of pigmeat to China and other Asian countries such as Japan, South Korea and Vietnam. As long as Ireland remains free of African Swine Fever, an issue that the IFA Pig Committee highlighted to the Oireachtas Agriculture meeting last week, the future remains bright for Irish pig farming, despite ongoing challenges.
Ireland’s percentage of the EU price has improved and is currently 120% of the EU average price as reported to the EU Commission for the week commencing 30/11/2020.
Factory pig throughput in Republic of Ireland export plants for the week ending December 20th 2020 was 74,927 head which was 2,652 less than the previous week and 4,024 more than in the corresponding week in 2019.
Top prices on a flat rate basis </= €1.56/kg – €1.58/kg in Rosderra and Kepak </=€1.58/kg – €1.62/kg in Cookstown, </= €1.58/kg – €1.60/kg in Dawn Pork & Bacon and </=€1.56/kg -€ 1.60/kg in Staunton’s.
Weekly Slaughterings Week-ending 20/12/20
EU-27 Pigmeat Reference Price Week Commencing 30/11/20
Irish price €1.56kg
EU–27 average price €1.30kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).