Pig Market ReportsPigs

Pig Market Update 26th October

There was no change in Irish pig price last Friday. Farmers are receiving quotes ranging from €2.06c/kg up to €2.16/kg from processing plants. The average price is €2.10/kg. The weekly throughput for week ending 23/10/22 was 69,232. 

The average size Irish Family Pig Farm is now in its 14th consecutive month of loss making. Teagasc calculate the break-even point to be €2.20/kg, which would mean a loss of circa €15,000 this month which is down from highs of circa €70,000/month previously for family farms. 

Matif Dec. Delivery prices are marginally lower and steadier then in previous weeks but remain volatile. Wheat (€342) & Maize (€332). Concerns that French fuel shortages were reducing winter planting have eased & planting of wheat (46% complete) & barley (67%) are now ahead of last year by 10% & 13% respectively. Australia is still predicting bumper harvest 34MMT of which a substantial percentage will be exported.

Drought in US mid-west causes concerns for planting. Currently 43% of area affected, which is the most severe since 2012 however forecasts hopeful of significant rainfall in next 4 weeks. 

The average European Grade E carcass price is €2.04/kg for week 41, which represents a -3.4% decrease in the past 4 weeks.  

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