Pig market: 16/04/2018

Prices reported to IFA

Comment: No change in Irish pig prices, with quotes remaining at an average of €1.40c/kg. Irish pig farmers remain perplexed that the seemingly positive vibes from the market place, both domestic and from our main export destinations, have not transpired into pig price increases thus far. While 2017 was a generally profitable year for pig production, cash reserves built up have been depleted after the past four months of below-cost production. Worryingly, for Irish pig farmers, input costs, namely feed, which had remained stable for a number of years, has started to move north, with all grain and protein markets having shown significant increases in recent weeks. While no Irish pig farmer would begrudge the native Irish tillage sector a much deserved fair return for their crops, this must be matched on the pig output side with a pig price increase. With pig feed price increases coming down the tracks, the risk of a real financial crisis in the pig sector looms large and it is only a substantial pig price increase above €1.50c/kg that will offset this happening.