Pig Market Update 26th April
There was no announced change to Irish pig prices last Friday with farmers are reporting quotes of €2.28 as an average Irish price. However, some farmers are now reporting top prices of circa €2.38 – €2.40 available.
This week at the Working Party for Pigmeat and the Civil Dialogue in Brussels, the Commission confirmed that prices for Grade E carcass pig averaged at €2.42/kg which is circa 30% higher than prices for the same week last year. This gap between the Irish average price and the EU average price must be bridged. Farmers have had to bear the brunt of high input costs for far too long and must be allowed to receive higher prices reflective of EU levels to achieve a sustainable margin for their pigs.
The weekly throughput for week ending 23rd of April 2023 was 60,858 of which 1,512 were sows.
On feed ingredients, short term volatility in grain markets is likely as we head towards the renewal date on the Black Sea Initiative (Ukraine grain deal). However, longer term fundamentals point to a more bearish price outlook, with ample global grain supply expected for next season (2023/24).