Pig Market Update 3rd March
The Irish pig price remains stable at €1.52-€1.54/kg again this week but the underlying sentiment has definitely become more positive in recent days. The worldwide demand for pork continues to underpin the trade with all roads leading to China. The Asian buyers continue to have an unsatiable demand for pork to supplement their own pork domestic production which continues to be up to 20% below 2018 levels as a result of ASF. The EU market has seen increases in the price for both sows, which are up another 10c/kg in Ireland and across the continent. Pig price has also lifted from low levels in most countries. While the Irish price is sitting in a slightly privileged position well above the EU average, all market indicators point towards a 4c/kg price increase this Friday. Industry sources have indicated that generally favourable market returns are leaving room for a pig price increase, which is needed at farm level, to cover the ever-increasing feed input cost.
Ireland’s percentage of the EU price has improved and is currently 111% of the EU average price as reported to the EU Commission for the week commencing 22/2/2021.
Factory pig throughput in Republic of Ireland export plants for the week ending February 28th 2021 was 71,508 head which was 1,099 less than the previous week and 7,652 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.52/kg-€1.54c/kg in Rosderra, Staunton’s and Kepak </=€1.54/kg – €1.56/kg in Karro (Cookstown) and in Dawn Pork & Bacon.
Weekly Slaughtering’s Week-ending 28/2/21
EU-27 Pigmeat Reference Price Week Commencing 22/2/21
Irish price €1.51kg
EU–27 average price €1.36kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).