Welcome Increase Brings Pig Prices into Line

Chairman of the IFA Pigs Committee Tom Hogan welcomed the increase from both Staunton’s and Dawn Pork last Friday. Both increased quotes up to €1.70kg. This increase brings the southern plants in line with quotes in the northern plants in the country.

A significant price differential had developed in recent weeks, which resulted in movement of pigs from the south, northwards, and this has been the driving force of the pig trade in 2017.

Hogan said that €1.70 was an established base price for pigs everywhere now, and it was clearly a sellers’ market, with more being paid on deals, and spot loads achieving in excess of €1.76/kg reported. Bord Bia reports that export market prospects to China remain positive for 2017 and this, combined with extremely low stocks of pork, will continue to see positive movement on pig prices and a realistic opportunity for pig farmers to re-coup losses sustained in recent years.

Ireland’s percentage of the EU price has improved and is currently 106% of the EU average price as reported to the EU Commission for the week commencing 27th February 2017.

Factory pig throughput in Republic of Ireland export plants for the week ending Mar 4th 2017 was 58,499 head which was 3,496 head less than the previous week and 4,301 less than in the corresponding week in 2016. Slaughterings in ROI export plants are -2.7% behind the same period in 2016.

Export Plants: Top prices on a flat rate basis </= 172cent/kg in Karro, </=170 cent/kg in Kepak, Rosderra, Dawn and Staunton’s.

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

Sows: 95 – 100c/kg DW.

Weekly Slaughterings: Week-ending 4/3/2017 Pigs: 58,499 Sows: 3,496

EU-27 pigmeat reference price week commencing 27th February 2017

Irish price €1.63kg

EU–27 average price €1.53kg

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