PIG FARMERS EXPECT PROCESSORS TO INCREASE PRICES IN LINE WITH STRONG MARKETS

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PIG FARMERS EXPECT PROCESSORS TO INCREASE PRICES IN LINE WITH STRONG MARKETS
25 Jun 2020

PIG FARMERS EXPECT PROCESSORS TO INCREASE PRICES IN LINE WITH STRONG MARKETS

COVID-19, Pigs

 

IFA Pigs Committee Chairman Tom Hogan called on all pig factories to increase the pig price tomorrow when setting the price for next week.

“The Irish pig price has been cut by 32c/kg since the onset of COVID-19 in March. Following the last price cut in late May, the markets have been very stable with signs of improvement on the home market and also across the EU,” he said.

 

Delays in getting pigs processed through plants was an issue, but the situation has thankfully improved and is no longer causing any hold-up.

 

Tom Hogan acknowledged that the latest pig factory closure in Germany was having a short-term impact, but was not hindering the prime pigmeat markets. IFA will not allow it to be used as an excuse to withhold an increase in price.

 

“The increased retail demand needs to be returned to the farmers in the form of a justifiable price increase,” he said.

 

The outlook for pigmeat markets remains very positive, with a continuing worldwide shortage of pigmeat.  Demand remains very strong from China, the world’s largest pig producer and consumer, due to the devastation caused by African Swine Fever (ASF). This demand will underpin the worldwide pigmeat market for 2020 and for years to come according to recent Rabobank Pork Quarterly Q2 2020 report.

 

Tom Hogan called on all pig factories to increase the pig price to at least €1.70c/kg.

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