Pig market: 13/03/2017

Prices reported to IFA

Comment: IFA pigs committee chair Tom Hogan welcomed the increase from both Staunton’s and Dawn Pork last Friday. Both increased quotes to €1.70kg. This increase brings the southern plants in line with quotes in the northern plants in the country. A significant price differential had developed in recent weeks, which resulted in movement of pigs from the south northwards and this has been the driving force of the pig trade in 2017. Hogan said that €1.70 was an established base price for pigs everywhere now and it was clearly a sellers’ market, with more being paid on deals and reports of spot loads achieving in excess of €1.76/kg. Bord Bia reports that export market prospects to China remain positive for 2017 and this, combined with extremely low stocks of pork, will continue to see positive movement on pig prices and a realistic opportunity for pig farmers to recoup losses sustained in recent years.