There has been a moderate decrease in feed prices, but according to Teagasc costs are still very high and very volatile. This comes as the National Fodder and Feed Security Committee met yesterday to discuss the current trends facing the farming sector, with the group forecasting that feed ingredient prices are set to increase between €50 and €70/t in April and by €25/t in May. But this was the least of the concerns, as the group heard that the average pig farmer has lost €28,000 since the group met 11 days ago.
According to Teagasc, pig farmers have destocked by a further 11 sows since 11 March, while some producers are rapidly approaching their maximum credit limits in feed mills. Teagasc noted that although EU pig prices had improved this has not materialised in Ireland due to a backlog of animals.
A topic of discussion at the meeting was on the matter that banks are trying to support producers, however the scale of losses in the pig farming sector is making it a difficult task to do so. It is expected price rises for pig and poultry produce would not cover costs. Although EU pig prices had improved this has not materialised in Ireland due to a backlog of animals.
The group was established by Minister for Agriculture, Food and the Marine Charlie McConalogue in response to food security and supply chain concerns.