There are increasing concerns among pig farmers over consistently low prices in the last fortnight.

Pig prices are currently at €1.40/kg, which farmers say is less than the cost of production.

“There’s major concern at the moment. We’re around 10c/kg below breakeven and factories didn’t seem to be able to cope with the kill in the last few weeks,” IFA pig chair Tom Hogan told the Irish Farmers Journal.

“Prices are always a bit down in January and February, but it’s much worse than this time last year.”

Chinese market

The price has been affected by a drop in demand from China, which is Ireland’s third-largest pork export market, and consumes roughly half of the pork produced in the world annually.

“There was demand from China at the end of last year but that’s died down now,” Hogan said.

“Bord Bia are definitely looking at export markets and the trade deal with Japan would be quite positive but that probably won't come into effect until next year.”

Vitamins

The global vitamin shortage caused by a factory fire in Germany has also had a knock-on effect on the price of pig feed.

“The price of feed has gone up €10/t due to the shortage in vitamins since last November, which adds 4c/kg to production costs."

“I’d be afraid of the way prices are at the moment that people will be forced to exit the business," he said.

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