Pig Market Update 30th May
Irish pig price was increased this week across primary processing plants by 8c/kg with Farmers receiving quotes of €1.78c/kg up to €1.82 or €1.84– €1.88/kg.
The 8c/kg increase is a welcome movement in the right direction by farmers but with much more required as a matter of utmost urgency.
The IFA Pigs Committee together with the Poultry Committee held a protest outside Aldi in Cavan as the costs of production soar and return to farmers, while improving, is not anywhere near the break-even point. The committee are meeting with retailers over the past week and will engage further with processors to further stress the urgency of increases at farm gate level. Farmers cannot continue to produce quality product and receive payment for this produce which is far behind the cost of production. The magnitude of losses incurred by Irish Pig Farmers has had a detrimental impact for some family farms leading them to have no option but to close their businesses which they have heavily invested in for many generations.
The European market prices have levelled with the weighted average price for grade S & E carcass at circa. €1.90/kg.