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PIG PRICE UPDATE 15th MAY

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The Irish pig market remains buoyant with good demand from all processors on the back of improving pork markets, especially the export market.

Last week’s kill of 55,000 in a short working week, is down about 4% on the corresponding bank holiday week in 2018. This small but very significant reduction in pig throughput is beginning to be replicated right across the main pig producing and exporting countries of the EU.

A 2-4% reduction in production combined with the well-publicised increase in demand from China is going to lead to improving returns for processors and pig prices will rise further in the coming weeks. The German pig market, with is reflective of the Irish production and export dynamics in many ways, increased again last week to hit €1.78c/kg. IFA Pig Chair Tom Hogan said that we should be receiving at least this price and he called on all pig factories to rise their quotes to €1.80.

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