Pig market: 20/03/2017

Prices reported to IFA

Comment: Chair of the IFA pigs committee Tom Hogan said that the pig trade remained relatively positive this week, but a number of processors attempted to take heat out of the rising market. While southern processors remained steady after rising quotes by 4c/kg last week, processors in the midlands, which had been driving the upward price trend, attempted to reduce quotes to some pig suppliers. Deals were being done for spot loads of pigs for up to €1.72, with €1.70 being the general run of prices received this week. Hogan commented that all market indicators pointed towards a steady to rising pig price over the coming weeks and months and said there was absolutely no reason for any processor to lower quotes. Pig farmers have only just returned to a profitable margin in recent weeks, after over 18 months of loss making pig prices.