Pig market: 12/06/2017

Prices reported to IFA

Comment: Prices remained relatively static yet again this week, in spite of the continued upward trend in the major European pig producers’ prices. With the German pig price at 1.81c/kg, the difference the average Irish pig farmer is losing at the current Irish price of €1.70/kg is around €2,500 per week. IFA pigs chair Tom Hogan called on the processing industry to increase pig prices this Friday to reflect the positive trade in pork and bacon on the home and export markets. With official Irish quotes remaining around €1.70c/kg and the European market powering ahead, the viability of exporting weaners to the continent is becoming a likely option for Irish pig farmers. With a reduction in the EU sow herd and lower slaughterings this year, there is a growing demand for weaner pigs to go into specialised fattening units. Without an immediate increase in the Irish pig price, this is a realistic option that pig farmers will explore.