Irish pig prices increased by 8c/kg on Friday last, with farmers receiving quotes of €2.14c/kg up to €2.22/kg from processing plants in Ireland. Irish pig prices have begun to increase but this increase leaves producers only circa 4c/kg ahead of where they were at the beginning of the new year. Irish prices remain circa 30c behind the Spanish pig price while the French pig price is at 2.70/kg, up 9c last week. The weekly throughput for week ending the 19th of February was 63,941 of which 1,159 were sows. European prices have continued to increase on the back of tighter supplies. Defra pig census figures estimates that the UK sow herd has fallen 20% in the last year and a cumulative 25% drop since 2020. Ireland is estimated to have dropped 10% over the same period.
Some feed ingredient prices have come back slightly over the past 2 weeks. Matif March Delivery: Prices had decreased in the last two weeks; wheat is now €278/tn a reduction from €300/tn. Maize followed a similar pattern and is currently circa €280/tn. The price reduction is due to Russian-Chinese & Russian-Turkey talks indicating that the Ukraine trade corridor will be extended beyond March and a stronger Dollar: Euro exchange rate. France reports that their winter crops are in excellent condition after the winter period, with 95% reported in ‘good-excellent’ condition.
The average European Pig Price for week 7 was €2.20/kg according to the European Commission which represents a 4% increase on the previous week, 10% on last month and 67.8% on prices for the same week last year.
