Irish pig prices remain unchanged for another yet week with €1.40c/kg being a representative average price with slight variations around the country.
Pig farmers are becoming increasingly concerned with the negative gap between the base cost of production of a kilo of a pigmeat and the factory price. Today, this is leaving a deficit of at least €8 per pig leaving the farm, with a €10 loss per pig price being a more realistic picture.
If this situation continues for a prolonged period, the Irish pig sector will endure a cash flow crisis in the short term, but more worryingly a long-term profitability crisis is also becoming a distinct possibility. While international markets in the EU and Asia have been disappointing and below expectations in 2018 to date, the summer barbeque season will offer a much-needed lift as will the upcoming World Cup.
Ireland’s percentage of the EU price has improved and is currently 97% of the EU average price as reported to the EU Commission for the week commencing 23/04/2018.
Factory pig throughput in Republic of Ireland export plants for the week ending April 28th 2018 was 67,209 778 head which was 569 head less than the previous week and 3,266 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 28/04/2018 Pigs: 67,209 Sows: 1,890
EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 23/04/18
Irish price €1.39kg
EU–27 average price €1.43kg
(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).