Pig market: 22/01/2018

Prices reported to IFA

Comment: Both Dawn Pork & Bacon and Staunton’s followed the lead of Rosderra and Kepak by reducing the pig price by a further 4c/kg for this week’s kill. Pig farmers are receiving a pig price as low as €1.40c/kg this week. While there is a range of prices, with up to €1.44c/kg being paid to regular suppliers, it is clear that every pig leaving an Irish pig farm is losing money. The Irish pig sector has made significant improvements in increasing output and efficiencies in production over the past few years, through massive financial investment into facilities, equipment, technology, genetics and feed. The past three months of sustained pig price reductions, down to today’s loss-making price, is unsustainable. A stable pig price which allows for this investment on a continued basis is needed to prevent the demise of Ireland’s third-largest agricultural sector.