Pig Market Update 2nd March
Pig prices remain unchanged in plants this week and farmers are receiving quotes of €1.40c/kg up to €1.44 or €1.46 – €1.50/kg. The DAFM weekly throughput figure was 73,736 for week ending 27/02/22.
Higher feed costs and lower pig prices compared to previous years continue to create extremely challenging trading conditions for Irish pig producers for 2022. With input costs soaring and pushing Irish pig farmers even further into negative margins, pig farmers are haemorrhaging massive losses. Teagasc figuresshow the average size family farm generating losses of circa €40/pig for a 600-sow unit which is circa €56,000 per month. While the government have announced a support package of €7m, the losses being incurred on farms are far in excess of this with industry losses predicted to be circa €127milion for 2022 (Sept 21 – Aug 22).
On the European market, pig prices have begun to rise in a steady fashion for some member states. Many EU member states have now adopted support measures. The aid is expected to help those affected by the pandemic, which will help to address liquidity issues.