The Irish pig price dropped 4c/kg last Friday, resulting in quotes for this week ranging from €1.66c/kg up to €1.70 or €1.72/kg in cases. Throughput was back to 68,217, a reduction of c.4,000 on the past few weeks. Reasons behind this price reduction are to be found across the European pigmeat market. Countries that had higher than average pig prices in recent months, Spain, France and Denmark (& Ireland) all dropped price by around 4-8c/kg last week. Demand from China has tapered off and is leaving a small excess of product on the intra-European market place.
The failure for the traditional summer tourism season to get going because of Covid has also dampened demand. This time of year would normally see high demand in Spain, Portugal, France and southern European countries but this has not happened as yet. Countries with lower-than-average pig price all held their quotes so it seems that a levelling of the playing field in terms of farmers pig price is ongoing. Spanish market analysts predict that this is a temporary blip in the market and that the Chinese will be back actively looking for pork in the coming months.
Top prices on a flat rate basis.
<= €1.66/kg-€1.74c/kg in Rosderra and Kepak
<=€1.70/kg – €1.74c/kg in Karro (Cookstown),
<= €1.70/kg – €1.72/kg in Dawn Pork & Bacon
<=€1.66/kg -€ 1.72/kg in Staunton’s