Glanbia reduce price by 5c/kg

Glanbia followed suit this week cutting pig prices to match Galtee and Dawn. The average price is now between €1.28/kg to €1.32/kg. However,some of the smaller producers especially in the North of the country are paying as low as €1.25/kg.

According to IFA Pigs Committee Chairman Pat O' Keeffe the price now paid to farmers is below the cost of production and cannot be sustained. The Minister for Agriculture cannot stand back from this issue and hope it resolves itself.

Sows are also a poor trade here with the recent MPA scare in Belgium coming on the back of contaminated feeds in Germany, confidence has been hit and may be affecting consumption. Quotes this week range from €11 to €14/cwt. Weaners are difficult to shift and no quotes are available.

The North has suffered a further fall in prices and are back 4pstg/kg bringing their price to 81pstg/kg or €1.29/kg, matching the Irish price. Prices are following the UK market which has seen a price reduction over the past six consecutive weeks falling from a high of €1.64/kg to an average price of €1.47/kg this week. Glanbia is now paying a new low of 85pstg/kg (€1.35/kg) on contract.

European prices are also following a worrying trend with Germany back 6 cent to €1.34/kg, Belgium back 10 cent to 138c/kg, France steady on 138c/kg and Holland down a massive 14 cent to 113c/kg.

Will the price landslide stop at this? Well it's anyone's guess but the industry feeling is, while the Danish price may have hit rock bottom, we still have some distance to go.