Pig Market Update 31st August
There was some change in Irish pig price last week with farmers receiving quotes of €2.06c/kg up to €2.14/kg from processing plants. The total weekly throughput was 66,685 for week ending 28th of August.
Teagasc estimate that break-even is at €2.20/kg while Irish producers are receiving significantly less than this for their pigmeat.
Chinese pig price is on a steady rise still and as of week 34 prices were at €4.18/kg. At the end of January, the average European pig price was €1.30/kg for a grade E carcass while today this has increased by 70c/kg.
For the period Jan 22- Jun 22 the total export value of Irish pigmeat has declined in value by 5.6% when compared with the same period last year. Bacon cut exports have declined by -7.7%, and hams have declined -20%, offal has declined -27.3% while pork cuts have increased 5.2%. The total export value for Jan 21 – Jun 21 was €274,913,529 and this year to date it is €259,616,318. The total volume of exports has decreased by -1%. The volume of bacon cuts have declined by -18%, volume of hams decreased by -25%, pork cuts have increased by 12% in export volume.