The Irish pig price remains stable at €1.52-€1.54/kg again this week but the underlying sentiment has definitely become more positive in recent days.
The worldwide demand for pork continues to underpin the trade, with all roads leading to China. The Asian buyers continue to have an unsatiable demand for pork to supplement their own domestic pork production which continues to be up to 20% below 2018 levels as a result of ASF.
The EU market has seen increases in the price for sows, which are up another 10c/kg in Ireland and across the continent. Pig price has also lifted from low levels in most countries.
While the Irish price is sitting in a slightly privileged position well above the EU average, all market indicators point towards a 4c/kg price increase this Friday.
Industry sources have indicated that generally favourable market returns are leaving room for a pig price increase, which is needed at farm level, to cover the ever-increasing feed input cost.