Pig market: 26/06/2017

Prices reported to IFA

Comment: The Irish pig price remains stable at €1.70/kg. Spot loads have been paid in excess of this price and there are many suppliers who have done deals to supply pigs to their processor at higher prices. North of the border, processors are more anxious than in previous weeks, with increased quotes offered to some suppliers, with prices ranging from €1.72/kg to €1.74/kg. Official prices reported to the Department of Agriculture show that prices are 12.5% above the same week last year. Official prices in Europe remain stable also at €1.75c/kg. Pig farmers are still expecting the Irish price to rise to at least this level and, more importantly, remain in a positive situation for the foreseeable future. A sustained period of positive margins is required on all pig farms in order to fill the financial holes that were left in 2015 and 2016.