Pig Market Update 7th November
There was no change in Irish pig price last Friday. Farmers are receiving quotes ranging from €2.06c/kg up to €2.16/kg from processing plants. The average price is €2.10/kg.
The average size Irish Family Pig Farm is now entering its 15th consecutive month of loss making. Teagasc calculate the break-even point to be €2.20/kg. The losses which have accumulated are putting immense pressure on family farms.
Russia pulling out of the Ukraine Grain Corridor over the weekend has resulted in EU and US feed ingredient prices spiking. Approximately 8.5 MMT were shipped through the corridor since agreement at end of July. Matif Wheat Dec. Delivery Prices escalated on the back of this and at close yesterday Wheat €354 (+€22/t) & Maize €347 (+€15/t).
Of the US winter wheat only 28% in good/excellent condition due to drought –A concern but very early in crop stage. The Crop will enter its dormant phase in the next 2-3 weeks and rain would be very welcome before then.
The average European Grade E carcass price is €2.02/kg for week 42, which represents a -1% decline on week 41 and a -4.4% decrease over the previous 4 week period.