Pig market: 24/04/2017

Prices reported to IFA

Comment: Quotes from the main processors remain in the range of €1.68/kg to €1.70c/kg again this week. Reports from pig farmers around the country indicate that the majority of pigs are moving at prices of €1.70c/kg-plus into export plants. Deals up to €1.74c/kg were reported as being paid for spot loads and lighter pigs, with the domestic market demand remaining strong. Chair of the IFA pigs committee Tom Hogan said the Irish pig price remained relatively stable once again this week, but he was optimistic about the future trends. The recent bank holiday weeks and forthcoming May bank holiday have all taken some of the pressure off procurement managers to fill their kill, but it highlights the competition for pigs that exists on the ground. Looking at all market indicators, including our biggest export market in the UK, Irish pig farmers should be pushing for a significant price increase in the coming weeks.