There was no announced change to the Irish pig price last Friday from the bigger factories and a 4c/kg increase was received from one of the smaller plants in ROI which is welcome by their suppliers. Farmers are receiving quotes of €2.00c/kg up to €2.08/kg.
Losses have been mounting on Irish pig farms now for a full year and Teagasc estimates that the total loss for the average size 600 sow unit to be in excess of €400,000. EU pig prices are steady – averaging at €1.93/kg for Grade E carcass. This represents a 29% increase in 1year.
Pig prices are at a record high but equally so are input costs over the past number of months which is ultimately hampering margins.
Feed prices may not fall as much as expected due to very high energy and transport cost increases. Feed ingredient future prices (wheat, barley, maize) continue to trade at €320-€330 for Matif Sept delivery which is circa €100 below May 22 peak of €435. The market focus is on the Black Sea safe corridor. A further 4 shipments left yesterday (combined 110k tonnes) with another 18 ships ready to depart in the coming week /two weeks. These are all ships that were blocked-in-port. No new ships have docked yet in Ukraine ports.