More price adjustment as both Dawn and Staunton’s reduced their suppliers pig price by 4c/kg, following the lead of Rosderra and Kepak a week earlier. All pig farmers have now taken a least a 32cent per kilo price reduction since the onset of Covid-19 in early March. This represents a cut of €26 per fat pig, which is an unsustainable cut.
On the positive side, markets have shown stability over the past two weeks, with EU markets appearing to have reached the bottom of the market at €1.65c/kg with signs of price improvement beginning to emerge across many EU markets. IFA Pigs Chairman Tom Hogan said that he had contacted all pig processors and reported that he sent the message in very strong that the cuts have to stop. Pig farmers have taken enough pain and there is no justification for any further cuts.