Pig market: 19/06/2017

Prices reported to IFA

Comment: No change in official quotes which remain at €1.70c/kg. Pig farmers are justifiably disappointed that Irish processors have failed to follow the European market and pass back an increase over the past few weeks. On a positive note, there is a noticeable increase in activity from plants in the northern part of the country, with reports of €1.74c/kg to €1.76c/kg being paid over recent days to secure sufficient supplies of pigs. Spot loads delivered to some smaller processors have also achieved these prices recently, but pressure is building among pig farmers on the ground for an official lift in prices from the main export plants. IFA pigs chair Tom Hogan called on the processing sector to lift pig prices in line with European price increases. This price increase is required to go towards overdue maintenance on pig units, which could not be funded over recent years with pig prices below the cost of production.