No change in the general quotes for pigs again this week, leaving the majority of prices being paid running from €1.80c/kg to €1.82c/kg. Spot prices have been reported well above this, and processors who mainly supply the domestic market are willing to pay the best prices to secure sufficient numbers.
Pigs processed across Europe are steady, but there is a realistic expectation that the price will move on this week, and Irish pig farmers can expect an increase to be announced this Friday. The demand from China is the dominant force that is driving the market and the massive increase in both demand and price for pigmeat in China is going to drive the price of all exporter’s pigs for the next few months. This upturn is badly needed as Irish pig farmers are only now starting to make inroads on debts built up in 2018.