Pig market: 07/08/2017

Prices reported to IFA

Comment: Most pigmeat processors moved to reduce pig prices by another 4c/kg last Friday, following similar reductions the previous week. Pig farmers selling pigs this week are receiving in the range of €1.65c/kg to €1.70c/kg. Most pig farmers have taken a reduction of between 4c/kg and 8c/kg over the past two weeks, which is disappointing to say the least. Chair of the IFA pigs committee Tom Hogan called on pig processors to stop undermining the Irish pigmeat sector with unjustified price cuts. After trailing the European pig price for the past number of months, Irish pig processors have taken slight price reductions in Europe, from high price levels not achieved in Ireland, to increase their profit margins. Hogan said that all processors remained very anxious not to lose any pigs and to maintain their supply.