There was a 4c/kg increase in Irish pig prices on Friday last, with producers reporting an average price of €2.20 and upwards available from processors in ROI while others are reporting prices significantly higher (6/7c/kg) than this available on the island. This signals a strong demand for pigs. There were also further rises across the EU market including an increase in German pig prices of 10c/kg (23c/kg increase over the past two weeks €1.95/kg ex vat).
The EU average price for week 13 for grade E carcass was 190c/kg excluding vat. This represents a –2.9% increase in last week’s average prices, but 4.4% up on last month’s prices and is -13% behind prices for the same month last year.
Geopolitics takes centre stage for the moment and markets are unsettled, mainly due to rising trade tensions and new US tariffs, especially on China. Oil prices have dropped to around $57/barrel, adding pressure to other commodities, including feed ingredients. As global trade flows are being reshuffled reports suggest some countries are rushing to import goods before new taxes take effect, while others are reassured by the timeline presented. This is particularly relevant for European soybean importers, as recent Commission statements indicate that tariffs on soy will come into force in December.
