Pig market: 20/08/2018

Prices reported to IFA

Comment: Irish pig prices remained below €1.40c/kg, with an average price quoted to regular suppliers of €1.38c/kg and some suppliers having to accept less than this. Pig numbers remain strong, at over 67,000 slaughtered last week. There has been a noticeable increase in sow throughput. It is too early to read much into this yet, but decisions on production are being made by pig farmers, and unfortunately in some cases by their bank managers, as to the viability of producing high numbers of pigs. Even the most efficient pig farms are losing significant money on a daily basis. After nine months of near-breakeven prices, there are no reserves left to support a loss-making enterprise for much longer. IFA pigs chair Tom Hogan insisted pig factories must increase prices this Friday and follow the German price up to €1.56c/kg.

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