Pig Market Update 27th Jan
The most recent 4c/kg price decrease was the 12th consecutive price drop from the heights of over €1.90/kg in February 2020 down to todays price in the mid-1.50/kg. Combined with feed input prices all climbing upwards, soya bean meal in particular, which is close to €500/tonne, this is leaving pig farming in Ireland a completely unattractive proposition once again. On reflection 2020 was a good financial year for pig farmers, but without a sustained margin over feed that was achieved in 2020 of 50c/kg plus, the industry will continue to lose farmers and consolidate further. When an Irish pig farmer with 400 sows producing 27 pigs per sow per annum struggles to meet the ongoing investment requirements of pig farming, it a disappointing reflection of the industry. The effect of Covid-19 on the worldwide pigmeat trade is reaching its one-year anniversary. This time last year COVID-19 was to blame for the shipping delays due to port lockdowns in China. Last week’s total ROI pig production was reported as 72,209
Ireland’s percentage of the EU price has improved and is currently 121% of the EU average price as reported to the EU Commission for the week commencing 11/1/2021.
Factory pig throughput in Republic of Ireland export plants for the week ending January 24th 2021 was 72,209 head which was 832 more than the previous week and 3,552 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.52/kg in Rosderra and Kepak </=€1.58/kg – €1.62/kg in Cookstown, </= €1.58/kg – €1.60/kg in Dawn Pork & Bacon and </=€1.56/kg -€ 1.60/kg in Staunton’s and Karro.
Weekly Slaughtering’ 24/01/2021
EU-27 Pigmeat Reference Price Week Commencing 11/01/2021
Irish price: €1.55kg
EU–27 average price: €1.28kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).