Pig Price Update 30th October
Demand for pigs from all processors remains strong and the bargaining power is definitely on the seller’s side again this week. The main export plants have held official quotes, but there is plenty of added extras and side deals reported around the country.
Plenty of pig farmers report that they are promised at least 2c/kg rise this week over the previous week. Any extra load of pigs being sold as a spot load is achieving at least €1.88c/kg and above, this week. IFA pig committee chairman Tom Hogan said that the pig factories were trying to keep an artificial lid on the price. He called on all processors to increase their official price to all suppliers to €1.90c/kg. Reports from the pigmeat trade all indicate extremely strong returns and while this is to be welcomed, Hogan called on factories to recognise the debt levels on Irish pig farms and the need for every cent to be passed back.