Pig market: 27/03/2017

Prices reported to IFA

Comment: Reports from pig suppliers around the country this week show a stabilising pig price after a number of weeks of rising prices. A number of plants have reduced their quotes below €1.70c/kg, but that price is still being paid for a large number of pigs and a few deals up to €1.74c/kg being paid for spot loads and lighter pigs. The Irish pig price had raced well ahead of the EU pig market since the beginning of the year, but a clear rise in pig prices is evident across Europe. The pig price in the UK is in excess of €1.80c/kg today and the UK is the destination for over 50% of Irish pigmeat exports. Similarly, large pork producer nations such as Denmark and Germany have increased pig prices over the last two weeks. Sentiment across the EU is very positive, with continuing demand from China for large volume of pigmeat and a contracting EU sow herd in 2016.