Pig Producers Feel the Pinch as Prices Remain Below Production Cost
Irish pig prices remain unchanged for yet another week. The kill for last week was 69,813. Quotes from the main export plants remain from €1.38c/kg up to a high of €1.42c/kg.
While all pig producers remain hopeful of a much-required price increase after producing pigs on a weekly basis for the past 3 months at less than the cost of production, pig farmers are starting to feel the pinch and so are their bank managers.
Any cash reserves built up from the good prices received in the summer months of 2017, have long disappeared and the Irish pig sector is facing a worrying time. Static, low pig prices and talk of feed price increases are leaving the pig production business looking increasing gloomy. While hard gained improvements in production and efficiency at farm levels in recent years have increased output on many Irish pig farms, without a significant price increase in the imminent future, a serious financial crisis looms over Ireland’s thirds largest agricultural sector.
Ireland’s percentage of the EU price has improved and is currently 96% of the EU average price as reported to the EU Commission for the week commencing 09/04/2018.
Factory pig throughput in Republic of Ireland export plants for the week ending April 14th 2018 was 67,330 head which was 12,987 head more than the previous week and 3,872 more than in the corresponding week in 2017.
Export Plants: Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, and Stauntons and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon and Cookstown.
Sows: 60c/kg DW.
Weekly Slaughterings: Week-ending 14/04/2018 Pigs: 67,330 Sows: 2,121
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 09/04/18
Irish price €1.39kg
EU–27 average price €1.44kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).