No Change in Pig Prices This Week

While stability is much needed in the pig sector, stability at the current pig price that is below the cost of production is of no benefit.

With conservative figures putting the cost of production at €1.50c/kg plus, the current pig price of €1.40c/kg must improve in the coming months if pig farmers are to stay in business.

Unfortunately, the situation across other member states of the EU is similar, with prices running at 10.8% below the same week last year. The importance of China as an export market for Irish and EU pigmeat is clearly evident when analysing the export figures from 2017. There was a 26% reduction in exports to China in 2017 compared with 2016 from the EU, and this reduction is concentrated in the second half of 2017. This had a major influence on the price reduction that every Irish pig farmer has endured over the past number of months.

Ireland’s percentage of the EU price has improved and is currently 103% of the EU average price as reported to the EU Commission for the week commencing 15/01/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending January 20th 2018 was 67,986 head which was 3,230 head more than the previous week and 3,748 more than in the corresponding week in 2017. Slaughterings in ROI export plants is 2.8% ahead the same period in 2017.

Export Plants: Top prices on a flat rate basis </= €1.40c/kg in Kepak, Rosderra, Staunton’s and Cookstown and </= €1.42/ €1.44c/kg in Dawn Pork and Bacon.

Sows: 60 – 75c/kg DW.

Weekly Slaughterings: Week-ending 20/01/2018 Pigs: 67,986 Sows: 1,724

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 15/01/18

Irish price €1.40kg

EU–27 average price €1.35kg

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