Pig market: 16/10/2017

Prices reported to IFA

Comment: There is no official movement of pig prices from the main export plants again this week, with prices remaining in the region of €1.58c/kg. The recent price reductions have come as a stark reminder to Irish pig farmers of the fickle nature of the business in a country where the number of pig farmers continues to reduce. With the price remaining below €1.60c/kg, the confidence that had been built within the pig sector has quickly eroded in recent weeks. On a positive note, price reductions have abated across the main pig-producing countries of the EU and many reports suggest a long-term stabilisation of pig prices, with some talk of slight increases in the final weeks of 2017. Ex-hurricane Ophelia caused some disruption to processing of pigs on Monday and many older pig units in the Munster region suffered some damage.