Pig Market Update 24th May
There was no change in pig price quotes from factories once again this week. Many pig farmers had expected an official 4c/kg increase to be announced last Friday, but were left disappointed. However, as this week has progressed, there does seem to be some unofficial increases and deals being done to ensure pig factories hold on to their supply as we head into a positive looking summer pigmeat market.
Some farmers have reported up to a 2c/kg increase in this week’s price but strictly on a “only for you” basis. Current quotes range from as low as €1.68c/kg, but in reality, most farmers are taking home between €1.70c/kg up to €1.74c/kg with more pigs now receiving closer to the top end of this price range.
Looking across the European market, prices in general remains stable but there are positive increases in Germany and other pig producing countries, with more increases expected in the coming weeks that will see the European average increase. It all augers well for an official 4c/kg increase in the Irish pig price this Friday, especially for those farmers still receiving quotes at or below €1.70c/kg.