There was no announced change to Irish pig prices on Friday last with farmers reporting quotes of at least €2.22 – €2.28 available from processors in ROI, with some reporting up to €2.30/kg.
The average European price for a grade E carcass pig for week 18 was €2.18/kg (excluding vat), which, according to the Commission, is 8.4% less than prices for the same week last year and is level with last month’s average EU grade E carcass price. EU prices, however, are expected to begin to increase steadily over the coming weeks due to higher demand coming into barbecue season.
The weekly throughput for week ending May 12th was 53,591 of which 1,926 were sows. The USDA expects wheat production to fall in the European Union by 2.15 Mt to 132 Mt, in Ukraine by 2 Mt to 21 Mt and in Russia by 3.5 Mt to 88 Mt. However, this would be offset by Argentina, which would gain 1.1 Mt in production to 17 Mt, Australia with an increase of +3 Mt to 29 Mt, the USA with an increase of +1.2 Mt to 50.5 Mt and Canada with a +2 Mt to 34 Mt increase.
World wheat production is expected to increase but so too is consumption. For soybeans, the USDA is forecasting a sharp rise in world production in 2024/2025 to 422.3
