A substantial price increase is “justified immediately to help offset continuing increases in the cost of pig production”, according to Irish Farmers’ Association (IFA) National Pig Committee chair, Roy Gallie.
“Pig supply for slaughtering is extremely tight and there is massive competition among processors for supply. A substantial price increase is justified immediately,” he said.
According to the IFA spokesperson, Irish pig price is currently at €2.02-2.06/kg, which remains below the average breakeven figure of €2.20/kg.
“The European Commission data as of August 10, demonstrates that the US average price is at €2.74/kg,” he said.
“Irish exports of pigmeat to the US are up 25% on last year according to Bord Bia,” Gallie added..
Data from the European Commission shows that EU slaughterings are down 4.2% in the four-month period from January to April 2022, while the tonnes of pork produced are down 5%.
Experts predict a substantial decrease in production in China, with reports from China saying the breeding herd has decreased by 20%, down 8 million sows.
“Chinese pig price has almost doubled since March from €2.20/kg to €4.00/kg today (August 12). Prices on July 15, reached €4.32/kg.
“Farmers need to consider all options when selling pigs as competition is tight and price increases are more than justified,” Gallie said.