No Increase in Pig Price Despite Market Indicators

Pig processors announced no increase in quotes for this week, despite all market indicators pointing towards a price rise towards the €1.50c/kg break even mark.

The main export plants have held quotes at last week’s price with €1.40c/kg buying the majority of pigs.

While the kill remains strong in the Republic of Ireland last week, demand, both domestically and from international markets continues to improve.

The number of pigs available for slaughter across the major pig exporting countries of Europe has dropped significantly in recent weeks and this shortage must surely be helping the Irish processors to sell product.

Ireland’s percentage of the EU price has improved and is currently 97% of the EU average price as reported to the EU Commission for the week commencing 12/02/2018.

Factory pig throughput in Republic of Ireland export plants for the week ending February 24th 2018 was 65,869 head which was 822 head less than the previous week and 2,637 more than in the corresponding week in 2017. Slaughterings in ROI export plants is 1.1% 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 24/02/2018 Pigs: 65,869 Sows: 1,905

EU-27 PIGMEAT REFERENCE PRICE WK COMMENCING 12/02/18

Irish price €1.38kg

EU–27 average price €1.41kg

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