The National Fodder and Feed Security Committee has heard that the average pig farmer has lost €28,000 since the group last met 11 days ago.
The group, led by former Animal Health Ireland (AHI) chair Mike Magan, met for the second time at the Teagasc facility in Moorepark today (Tuesday, March 22).
It was established by Minister for Agriculture, Food and the Marine Charlie McConalogue in response to food security and supply chain concerns arising from the war in Ukraine.
Since the committee last gathered on March 11, Teagasc said that pig farmers had destocked by a further 2,000 sows.
The meeting heard that some producers are rapidly approaching their maximum credit limits in feed mills.
Although a moderate reduction in feed prices was reported, Teagasc noted that costs are “still very high and very volatile”. Feed ingredient prices are forecast to increase by between €50 and €70/t in April and by €25/t in May.
Currently, the average pig unit is losing €56,000/month and this could rise to €71,000/month in April.
Teagasc noted that although EU pig prices had improved this has not materialised in Ireland due to a backlog of animals.
The meeting heard that banks are trying to support producers but the scale of losses being experienced is making it difficult. It was stated that expected price rises for pig and poultry produce would not cover costs.
Teagasc also outlined that poultry flocks are considering not putting in pullets due to a loss-making forecast.
Turkey producers are currently losing €50,000/flock on a 16-week cycle and rising feed costs will lead to losses for egg producers in April.
Teagasc staff are continuing to work with individual producers to assess current performance, costs and losses and to forecast their income and costs for the coming 12 months.
Among the options being explored with farmers are stocking rates and the possibility of extra finance.
Along with addressing any animal welfare concerns, Teagasc noted the importance of supporting the well-being of farmers through this difficult financial period.