There was no change in Irish pig price last week. Farmers are now receiving quotes ranging from €2.06c/kg up to €2.16/kg from processing plants.
The latest Teagasc cashflow forecast for the 12-month period of Jan 2022 – Dec 2022 shows that the average size family farm of 600 sows will be at a loss of -€356,250 this year, excluding any government aid received. The monthly non feed costs for the same family sized farm are estimated to be circa €69,000. The supply of pigs is tightening across EU and it is expected that markets will reflect this tightening in supply. It is understood that the Chinese government have released pork from reserves. Despite this, the Chinese live pig price is 24.39RMB or circa €4.58/kg carcass weight.
EU exports to China are back by 57% for the 1st 7 months of the year, but they are still the largest partner market for EU pigmeat suppliers. Exports to Japan have increased by 42% year to date, and to the Philippines by 50%. Exports of Irish pigmeat to South Korea increased significantly this year to date with the value of exports doubling from €8,309,972 to €16,737,795.
The average European Grade E carcass price is €2.11/kg an increase of 54.5% of the same period last year.