Pig Market Update 30th March
A 4c/kg increase to Irish pig prices last Friday sees this week’s quotes all at or above €1.60/kg. Take home prices after bargaining and bonuses leave the average net pig price closer to €1.62-€1.64/kg. While a price increase is always welcome, the current market for pigmeat, both at home and on international markets is leaving scope for further increase in the coming weeks. Even with last week’s total kill of 74,206, pig factories are anxious to keep all suppliers with them and not lose any pigs for the reminder of the year. The sentiment is similar across Europe. The largest pig producing nation in Europe, Spain, has improved its pay-out price again, which now stands at €1.46/kg live weight (€1.87/kg dead wt.) The Spanish are getting almost the same price for live pigs as some countries are paying for carcass pigs. Many buyers have been accustomed to cheap pigmeat over the winter months, but this cheap pork is no more, and new pricing agreements across Europe are beginning to bed in the 30c/kg price increase that has been seen over the past 2 months and also take account of a future 30c/kg increase that market analysts predict will happen in the coming months.
Ireland’s percentage of the EU price has improved and is currently 100% of the EU average price as reported to the EU Commission for the week commencing 20/3/2021.
Factory pig throughput in Republic of Ireland export plants for the week ending 28th March 2021 was 74,206 head which was 20,968 more than the previous week and 2,536 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.60/kg-€1.63/kg in Rosderra and Kepak </= €1.60/kg-€1.64/kg in Staunton’s, >/= €1.62/kg-€1.64/kg in Dawn Pork & Bacon and </=€1.62/kg – €1.66/kg in Karro (Cookstown).
Weekly Slaughtering’s Week-ending 28/3/21
EU-27 Pigmeat Reference Price Week Commencing 20/3/21
Irish price: €1.55kg
EU–27 average price: €1.55kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).