There was no announced change to Irish pig prices on Friday and producers are reporting quotes of at least €2.38 – €2.40 available from processors in ROI, with some pig farmers reporting up to €2.45/kg available across the island.
The USDA released its latest World Agricultural Supply and Demand Estimates (WASDE) report yesterday. A record soyabean crop is projected in the US on higher area and yield. The US maize crop was also revised up and global wheat ending stocks were revised down. 2024/25 US soyabean production is now expected to reach 124.9 Mt, up from 120.7 Mt last month. This also far exceeded the average analysts’ expectation of 121.6 Mt. Production in other top exporting countries remained unchanged from July. US maize production yesterday was also raised by 1.18Mt to reach 374.7Mt. World ending stocks of wheat for the 2024/25 season is projected to reach 256.6 Mt, down 0.6 Mt from July’s estimate and relatively in line with (0.3 Mt below) the average of analysts’ expectations.
Live pig price in China is 21.15RMB which is the equivalent to €2.68/kg live weight or €3.48/kg (77% kill out). For the first half of the year, CSO data shows that Ireland has exported just shy of 18,000 t of pigmeat to China (21% of exports this year), however, this is 12% less than the same period last year.
