Pig market: 22/10/2018

Prices reported to IFA

Comment: No change in pig prices for this week, with €1.42/kg being the average price received. Pig farmers’ hopes of a pig price increase are becoming more realistic with the news of the impact of African Swine Flu across Asian markets, China in particular having a greater impact on world trade. Industry sources report increasing demand for pigmeat to supply the Chinese market, coupled with increased prices paid for many cuts. IFA pigs chair Tom Hogan called on all pig factory bosses to implement at least a 4c/kg rise for next week’s pigs. “This price rise is fully justified based on market returns. Not withstanding this, there continues to be a loss of pig farmers exiting production weekly due to the continuing financial crises facing pig producers. Margins over feed of 20c/kg are not sustainable.”