Pig market: 06/11/2017

Prices reported to IFA

Comment: Pig farmers got very disappointing news last Friday of a 4c/kg cut in pig prices from most processors. Prices this week range from a low of €1.52c/kg to an average of €1.54c/kg. The usual variation and premiums above this exist for lighter select pigs. This latest cut in the pig price is extremely disheartening for Irish pig producers. Having watched the EU price rise up to 10c/kg above the Irish pig price in June and July this year, now, when the continental trade is traditionally weaker, Irish prices are dragged down to match the seasonally depressed EU pig market. IFA pigs chair Tom Hogan called on the pig factories to reverse the latest cuts and pay a sustainable price for Irish pigs. “With a breakeven cost of production at €1.50c/kg, our industry is going nowhere when farmers are expected to take €1.52c/kg and invest in the future of the business.”