Pig market: 05/02/2018

Prices reported to IFA

Comment: No change in the Irish pig price again this week. Most regular suppliers to their processor are receiving around the €1.40c/kg mark for their pigs. There is no doubt that there are some pig farmers, especially those with smaller consignments of pigs to sell, being forced to accept less than this price this week. Conversely, regular suppliers are receiving 2c to 4c/kg above the €1.40c/kg price from their processors. Finally, there is positive news on the price, with news of a 3c/kg rise in pig price being paid by German processors this week. Albeit from a low base price, any increase is positive and indicates that the spiral into financial crisis on all European pig farms may be at an end. To prevent this crisis developing on Irish pig farms, an increase in the pig price is imperative in the month of February and, with increasing costs, a price in excess of €1.50c/kg needs to be realised in the very near future.