Pig Market Update 6th September
There was no change in Irish pig price last week with farmers in some processing plants having received an increase of 4c/kg the week previous. Farmers are now receiving quotes ranging from €2.06c/kg up to €2.14/kg from processing plants.
Teagasc estimate that break-even is at €2.20/kg and Irish farmers are still incurring unsustainable losses on farm. European prices are at record levels and markets continue to increase as pig supply tightens; French (€2.40), UK (€2.36) & Spanish (€2.30) continue to lead the way across Europe.
Chinese pig price is on a steady rise and prices are strong. As of week 36, prices were at €4.44/kg. The average European pig price for Grade S/E carcass for week 34 was €209.30, an increase of 6.1% on last month and an increase of 43.3% on last year.
The sow herd in the UK has fallen by a massive 15% when compared to December 2020. Matif Sept. Delivery Wheat & Maize are still hovering around €330 & €320/tonne respectively.
Encouragingly YOY Canada wheat output + 58% (34MT vs 22MT) & Russia wheat + 22% (92Mt vs 76Mt).
International market focus remains on maize-soyabean drought and Ukraine shipments