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Pig Trade & Prices

Pig Trade & Prices

Pigmeat

Prices: The average price paid for grade E pig prices in Ireland for the week ending November 19th, 2022 remains unchanged at €2.03/kg deadweight, excluding Vat. The current price is 42% higher than the corresponding week last year. Irish prices are running at similar levels compared to the EU average Grade E pig price which . Despite the increase in prices, pig producers remain exposed to ongoing high production costs. As the cost of production has soared over the past 18 months, pig producers across the EU and Ireland have exited the industry. In the latest June livestock census, the EU pig breeding herd is back by five per cent or 483,000 head at 10.1 million head compared to 2021 levels. In Ireland, the breeding herd has fallen by 10% or 15,000 head to 137,000 head in the last year. The outlook though points to a sector that will continue to be challenged on the back of ongoing high feed and energy costs. In addition, consumption in key International markets continues to be hampered by out of home dining restrictions due to Covid-19.

Throughput: A total of 76,311 pigs were processed in Irish export plants during the week ending November 19th, 2022. Total pig throughput has begun to tighten significantly in recent months reflecting the impact of subdued producer confidence, with the year-to-date pig supplies now running around two per cent lower at just over three million head. In addition, it has been reported that there has been a significant reduction in carcase weights over the past few months, with typical carcase weights returning to between 85kg to 90kg deadweight. Across the Eurozone, the EU Commission forecast production during 2022 to fall by five per cent to 22.4 million tonnes compared to prior year levels.  

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