Pig Market Update 8th April
All indications from both the domestic, British and European pigmeat markets signposted that the market was at the very least, stable in terms of pig price. Many respected analysts predicting a positive short-term outlook, on the back of increased retailer pork demand due to coronavirus.
In spite of these market indications, both Rosderra and Kepak cut their suppliers another 4c/kg. This leaves a wide spread in what pig farmers are receiving today, from a low quote of €1.78c-€1.80c/kg in both of the previously mentioned factories, to higher quotes of between €1.86 and €1.88c/kg in Staunton’s and Dawn Pork & Bacon. IFA Pig Chairman, Tom Hogan said he was both surprised and disappointed by these latest price cuts, and he conveyed these sentiments to both Rosderra and Kepak. In these unprecedented emergency times, he called on all pig processors to halt the price cuts and return badly needed market stability.