There was an increase of 4c/kg paid to Irish pig prices on Friday and producers reporting quotes of at least €2.36 – €2.40 available from processors in ROI, with some reporting up to €2.42/kg available, signalling strong demand for ROI pigs.
The average European price for a grade E carcass pig for week 26 was €2.21/kg (Excluding vat).
The weekly throughput for week ending July 7th was 60,833 of which 1,887 were sows.
The latest report from AHDB said that despite the positions held by speculative traders, over the longer-term, the outlook for prices is determined by the market fundamentals i.e. supply and demand. Uncertainty over the outlook for wheat markets remains, however, with some crop estimates cut further but other upgraded recently. Stocks in key exporting countries are already low and predicted to decline further, meaning there’s a limited cushion to any supply issues. Unfavourably hot weather is expected in Russian spring wheat growing areas this week, while ongoing harvests will also give more insights into potential crop sizes. The Russian crop number will be amongst the figures watched in the USDA’s next estimates of world supply and demand on Friday.
