Pig market: 04/09/2017

Prices reported to IFA

Comment: Unfortunately, many pig suppliers got very disappointing news from their pig factory last Friday with a 4c/kg reduction to be enforced on this week’s pigs. This follows reductions of 10c/kg that all pig farmers have suffered over the past month, at a time when the main pig-producing nations in the EU have remained above the Irish prices. Suppliers to Dawn and Stauntons remained at last week’s prices, but other export plants on both sides of the Irish border reduced prices. Quotes today range from a low of €1.60c/kg to an unchanged price of around €1.66c/kg, but the trend of reducing prices is very worrying for pig farmers. Lower production across the EU, strong export markets in Asia and good domestic demand do not indicate that pig price should be falling back. IFA pigs committee chair Tom Hogan called on all processors to restore stability in the sector and stop unjustified price cuts.