Pig Market Update 7th April
Irish pig quotes remain static at €1.60-€1.62/kg over the Easter weekend and it was a similar situation across most of Europe, with some marginal upward movement on price. The underlying demand, especially from China, is predicted to drive the European pig price upward in the coming weeks and months ahead and when costs of production is taken into account, a significant price increase is badly needed.
The most recent increases in Ireland’s pig price from the low €1.50’s to over €1.60/kg today, was totally subsumed into covering feed cost increases. All grains, including imported maize, rape seed meal and soyabean meal are all well up over 2020 prices. While future prices may have settled, there are still significant increases in feed costs per kilo compared with last year, and €1.60/kg is close to the breakeven pig price required for a sustainable pig farming sector.
With the increased volatility in worldwide pigmeat over the past 5 yaers, a significant price increase in summer 2021 is essential to cover recent losses incurred and attempt to build some reserves in the pig farming sector for the future.
Ireland’s percentage of the EU price has improved and is currently 99% of the EU average price as reported to the EU Commission for the week commencing 27/3/2021.
Factory pig throughput in Republic of Ireland export plants for the week ending 28th March 2021 was 74,206 head which was 20,968 more than the previous week and 2,536 more than in the corresponding week in 2020.
Top prices on a flat rate basis </= €1.60/kg-€1.63/kg in Rosderra and Kepak </= €1.60/kg-€1.64/kg in Staunton’s, >/= €1.62/kg-€1.64/kg in Dawn Pork & Bacon and </=€1.62/kg – €1.66/kg in Karro (Cookstown).
Weekly Slaughtering’s Week-ending 28/3/21
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 27/3/21
Irish price: €1.55kg
EU–27 average price: €1.56kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).