Pig Price Update 4th February
No change from Irish processor with Irish pig farmers receiving €1.38-1.42c/kg. Demand from factories is meeting supply with no issues getting an extra load of pigs away this week. Last weeks kill remained high with just over 70 thousand throughput.
The low and stagnant pig price which has pertained for the past 12 months has had a devastating effect on the financial stability of Irish pig farmers. Some have had no choice but to cease serving sows and wind up production, with others putting their units on the market for sale. Looking forward in the coming weeks, no one would argue that a major lift in prices is required for the sector to continue. The ongoing ASF outbreaks in China and loss of over 1 million pigs from their domestic herd, is hoped to give rise to an increase in demand, with Ireland in a good position to benefit from this anticipated trade shift.
African Swine fever (ASF) continues to cause major disruption to production across China and South East Asia, with official reports of at least 900 thousand pigs culled to ASF in China, but unconfirmed reports indicate this number is far higher.