Pig market: 27/02/2017

Prices reported to IFA

Comment: IFA pigs committee chair Tom Hogan welcomed the increase in pig prices last Friday, when most processors increased quotes for the current week by 4c/kg. The second 4c/kg increase in two weeks leaves pig farmers receiving prices ranging from a base of €1.66c/kg to well in excess of €1.70c/kg. The increased competition between pig factories, most notable in the northern part of the country and in Northern Ireland, has been driving the upper end of prices and these plants are still the most anxious to secure sufficient pig numbers on a weekly basis. Hogan noted that the current market for pig meat was extremely strong for the time of year and industry sources indicate that stocks of pork and bacon are virtually non-existent in Ireland. All indications point towards a continued strong market, both domestic and export for the coming months.