Positive news last Friday morning from all pig processors with the announcement of an official 4c/kg price rise for this week’s pigs. This has risen most suppliers above €1.40c/kg, with Rosderra and Kepak quoting €1.42c/kg and both Dawn Pork & Bacon and Staunton’s in West Cork at 4c/k above these quotes.
While the four main export plants held their quotes ranging from 138c/kg to 142c/kg to pig farmers last Friday, there was increased prices reported being paid to many pig farmers for this week’s pigs. Farmers at the lower end of these quotes have been reported to receive increases of between 2c-4c/kg. Despite this, there was no official price rise, but all signs point to the illusive and much warranted price increase being implemented sooner rather than later. Brexit is having a major negative impact on all meat markets with the continued uncertainty around the destination of 50% of Ireland’s pigmeat exports.
It’s the same story once again with no change in quotes announced last Friday for this week’s pigs. Anticipation is rising among farmers that the main pig processors will lead the price up 4c/kg this Friday, based on similar increases in European countries and reports that export demand has picked up.
Pig prices remain static once again with margin over feed the worst return that pig farmers have received in over two decades. Rosderra and Kepak are reported as paying €1.38c/kg to suppliers, with both Dawn Pork & Bacon and Staunton’s in West Cork, paying up to 4c/kg over this price.
Many suppliers are taking below these prices around the country and hope is fast running out among pig farmers for the future of the industry. Many farmers have looked for some financial support in order to reduce their creditors bill and cease the business. The much-anticipated increase in demand from China is going to take a number of months until it materialises into a price for Irish exporters and farmers. Many can not wait until this happens. On the ground, there is a noticeable tightening of pigs numbers and factories are more anxious to secure their weekly kill.