Pig Trade & Prices
Prices: The price paid for grade E pig prices in Ireland for the week ending October 10th, 2021 reduced slightly to €1.50/kg, this is 9c/kg lower than the same period 12 months ago. Irish prices currently sit 18c/kg above the EU Grade E price, which sits at €1.32/kg. Average Irish prices have dropped an average of 15c/kg since 2020 (-9.0%), but have remained stable since the start of this year.
The pig industry has faced some difficulties in recent times with regards to increased labour and feed prices. Composite feed prices are 39c/tonne than this time last year.
Throughput: A total of 74,291 pigs were sent for processing in Irish export plants during the week ending October 10th, 2021. This shows a large increase of 5,680 pigs (+8.0%) on the week previous and 6,125 head on the same week 12 months ago (+9.0%). The year-to-date pig throughput levels are currently running at 1,787,147 head, which is six per cent higher than 2020 levels.
Grade E pig price week ending October 10th 2021: €1.50/kg
Chinese Live hog price: China’s live hog prices have shown signs of stabilisation as it increased by 4.2% since the previous week. The monthly change reports a 12.6% drop since last month.
With plentiful pork still available in the market, many traders are holding back from imports—especially while imported pork remains pricier than domestic, chilled pork. This is reflected clearly in recent pork imports data. BOABC forecasts that China’s pork imports for the rest of the year will average between 200,000 and 250,000 tonnes per month. They ultimately expect a 700,000 tonne drop in China’s total pork imports this year, to around 3.6 million tonnes.
It is apparent that the prices are unlikely to improve significantly this year, though they may well bottom-out in late-October or early November.
See our weekly updated market trends.