There was no announced change to Irish pig prices last Friday however farmers are reporting quotes of €2.38 – €2.42 and upwards available among Irish processing plants. Further unannounced increases were reported across the country which reflects the decline in supply of pigmeat in Ireland. Production figures are back over 11% year to date.
The weekly throughput in ROI plants for week ending July 23rd was 61,426 of which 1,678 were sows.
The average European price for a grade E carcass pig for week 28 was 250.5/kg which is 2% higher than last month and 30% higher than prices for the same week last year, according to the Commission.
According to the USDA, pork production is set to increase in China, Canada and Brazil. Chinese pigmeat production is on the rise, with higher than expected slaughter, as producers seek to reduce herd size and maintain a flow of profit.
Earlier this week Russian air strikes using drones damaged port infrastructure and destroyed grain storage in Reni on the Danube. Wheat futures, rose after the attacks.