Pig Market Update 9th 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 throughput for week ending 6th of November was 57,423. The throughput figure for fatteners is back -5.6% for 4wk period in October vs the same period last year.
The Ukraine grain corridor re-opened last week due to Turkish pressure & Russian wheat export needs but the throughput is slow due to ‘admin backlogs.’
Matif Dec. Delivery: Prices decreased on the re-opening of Ukraine grain corridor by €25/t. At close yesterday wheat €337/t & maize €331/t. Moderate rain in the US Mid-West has improved the wheat drought conditions, modestly reducing wheat price. Whilst in Argentina has also improved their outlook, with soya planting increasing rapidly.
European pig price has declined somewhat and the average European Grade E carcass price is €1.98/kg for week 42, which represents a -2% decline on week 41 and a -4.8% decrease over the previous 4 week period.