Pig Market update:
When the last report was submitted (23.02.2022) the prices were as follows:
Kepak €1.40 –1.44c/kg
Dawn P&B €1.46-1.50c/kg
Today, pig prices are reported at the following prices:
Rosderra €1.66 – 1.70c/kg
Kepak €1.66 –1.70c/kg
Dawn P&B €1.72-1.76c/kg
Current Pig Market and Outlook
2022 is set to be a challenging year for pig producers with significantly higher input costs, lower pig price to begin with, Covid-19/ Brexit and labour impact all proving difficult to manage as these factors are outside the control of the farm gate. There was no change in pig price quotes from factories once again this week. Slight improvements in the European situation at the moment as the price seems to have stabilised at a low-price averaging at €1.90/kg for a Grade E Pig Carcase, Week 17. Over the past year, margin over feed has decreased by 97% from 48c/kg April ‘21 to just 1c/kg currently as reported by Teagasc. To break even, margin over feed would need to be at 50c/kg which we are a far cry from at present. Total throughput for week ending 01/05/2022 was 75,663 as recorded by the Department of Agriculture. The continued strong supply of pigs from Irish farms is a testament to the improvements in both breeding and management.
The Minister for Agriculture Charlie McConalogue has announced a new support scheme valued at €13m for pig farmers. The package is worth up to €70,000 to approximately 250 farmers to help address the soaring input costs endured by farmers. However, Teagasc estimate that the average size family farm of 600 sows is now forecast to generate losses of circa €436,000 for the annual year (€50/pig currently).
The Pigs Committee, led by Chairman Roy Gallie, is now on a sustained campaign to ensure an increase of 30c/kg, (€2.00/kg) is achievable by the 1st of June. Currently they are meeting with secondary processors and have commitment from a number of these processors to pay whatever increases are required to their suppliers; the primary processor. Continuous efforts will continue on this.
European Pig Market Report
Last week, The German price fell by 15c/kg, bringing the German price back to c. €1.80/kg. Other MS are performing stronger; France, Spain, and also the UK which are all over €2.00/kg.