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PIG PRICE UPDATE 13th MARCH

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Positive news last Friday morning from all pig processors with the announcement of an official 4c/kg price rise for this week’s pigs. This has risen most suppliers above €1.40c/kg, with Rosderra and Kepak quoting €1.42c/kg and both Dawn Pork & Bacon and Staunton’s in West Cork at 4c/k above these quotes.

Karro in Cookstown also lifted the prices paid to ROI pig suppliers by 4c/kg. This rise has been long anticipated by farmers and IFA Pig Chairman Tom Hogan welcomed the price increase. “Irish pig farmers have suffered massive losses for over 14 months now and will continue to do so until the market returns a number of further price increases. The margin over feed that the sector has operated at for months now is completely unsustainable. This is the first step in the road to recovery for Irelands third largest agricultural sector.

The much-anticipated increase in demand from China due to both devastating ASF in the pig producing regions, and an international trade dispute with the US, at long last, seems to be coming to reality, albeit at a slower pace than predicted. Last weeks national kill was 68,672, once again below the 70k mark, indicating that demand is starting to exceed supply after months of the reverse.