Pig Market Update 24th July
The Irish pig price stabilised this week with static quotes given to farmer of between €1.74 and €1.76c/kg. The supply of pigs remains very tight with a shortage of number resulting in some plants operating on a four-day week.
The European market has also stabilised following some recent price decreases. While the Irish price has tracked these recent reductions, there is a level of frustration among pig farmers that the Irish price did not follow the European pig price upwards as quickly in April and May as it has followed these recent reductions. The overall pigmeat market outlook remains very positive, with the worldwide shortage of pork due to the effect of ASF in Southeast Asia dominating the world market. The latest report from China state that 25% of the sow herd has ben lost to ASF.