The IFA are calling on other supplies to follow suit and lift prices in line with a 4c/kg increase from both Dawn Meats and Stauntons Foods. The price now sits at a reported €1.74/kg.

“The outlook for the second half of the year is now looking much more positive,” according to Robert Malone, IFA pigs committee.

Official prices reported to the Department of Agriculture for last week, show that prices are 12.5% above the same week last year. Official prices in Europe also remain stable at €1.75c/kg.

Trade

Figures from Eurostat show that one of the main international buyers of European pigmeat, China, has lower imports of pigmeat this year. In the first quarter of 2017 it imported 399,000tonnes of pigmeat, 0.6% less than Q1 2016. On the plus side, Japan and Hong Kong have both increased imports by 14.5% and 13.5% respectively, however there volumes are much lower: at approximately 100,000 tonnes each.

Listen: steady prices but new challenges for pig farmers

Pressure on factories as two processors lift prices

An increase of 4c/kg has been reported by both Dawn and Stauntons today, according to the IFA.