There was no change in Irish pig price last Friday. Farmers are receiving quotes ranging from €2.06c/kg up to €2.16/kg from processing plants.
Grain prices continue to ease as Russia continues to ship its large grain exports, however Irish composite prices are under pressure due to energy costs.
European pig prices have stabilised on the back of Christmas trade, tighter pig supplies and there appears to be more Chinese import interest. The Chinese domestic pig price is currently up 100% since March 2022 (24 RMB). The average Irish pig price is unchanged at 210c/kg while break-even is 220c/kg according to Teagasc.
Matif March Delivery: Prices steadily reducing due to extension of the Ukraine grain corridor & high Russian exports. Currently wheat €313/t & maize €292/t – down €50/t since mid-October. Exports of the recent bumper Russian wheat crop (91MMT vs 78MMT 2021) is in full flow which is putting downward pressure on international prices.
Irish supply of wheat and barley is now available from importers for Jan – April 2023 period at €310/t which is down circa €40/t from recent weeks.