WELCOME INCREASE IN PIG PRICES

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WELCOME INCREASE IN PIG PRICES
28 Feb 2017

WELCOME INCREASE IN PIG PRICES

Pigs

Chairman of the IFA Pigs Committee Tom Hogan welcomed the increase in pig prices last Friday, when most processors increased quotes for the current week by 4c/kg.

The second 4c/kg increase in two weeks leaves pig farmers receiving prices ranging from a base of €1.66c/kg to well in excess of €1.70c/kg.

The increased competition between pig factories, most notable in the northern part of the country and in Northern Ireland, has been driving the upper end of prices and these plants are still the most anxious to secure sufficient pig numbers on a weekly basis. Hogan noted that the current market for pig meat was extremely strong for the time of year, and industry sources indicate that stocks of pork and bacon are virtually non-existent in Ireland. All indications point towards a continued strong market, both domestic and export for the coming months.

Ireland’s percentage of the EU price has improved and is currently 105% of the EU average price as reported to the EU Commission for the week commencing 13/02/2017.

Factory pig throughput in Republic of Ireland export plants for the week ending Feb 18th 2017 was 63,267 head which was 479 head less than the previous week and 302 less than in the corresponding week in 2016. Slaughtering’s in ROI export plants is -2.3% behind the same period in 2016.

Export Plants: Top prices on a flat rate basis </= 170cent/kg in Karro, </=168 cent/kg in Kepak, and Rosderra, </=166 cent/kg in Dawn and Staunton’s.

Pork Slaughters: The price range is </=160 cent/kg.

Sows: 95 – 100c/kg DW.

Weekly Slaughterings: Week-ending 18/2/2017 Pigs: 63,267 Sows: 1,760

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 13/02/17

Irish price €1.59kg

EU–27 average price €1.52kg

(Grade E pigs – 55% to 60% lean meat excluding VAT but including transport and bonuses).

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