There have been significant losses in the pig farming sector, with the average 600-sow pig unit losing €206,000 since the start of 2022, according to Teagasc. This comes as the National Fodder and Food Security Committee held its third meeting earlier this week. According to Teagasc, the average producer is down by a further €58,000 in the past month. The authority estimates that the Irish pig sector has lost €54.2 million for 2022 so far.
The National Fodder and Food Security Committee meeting heard that pig feed prices rose by €50/t in April to a composite €449/t. Feed prices have increased by almost 40% year-on-year. Teagasc has since warned farmers that feed costs could increase by a further €20 to €30 in May. Despite the price of pigs increasing by 26c/kg, rising input costs appear to overshadow the hike in the pig farming sector. The committee was told that the current pig price of €1.68/kg is 39c/kg below the breakeven level of €2.07c/kg. Teagasc has forecasted that the industry will reach breakeven by March 2023.
Last week, the Cabinet approved a €13 million support package for the sector, this is in addition to a previous package worth €7 million. The Department of Agriculture, Food and the Marine (DAFM) confirmed that the latest measure includes a condition of a 10% decrease in production for the sector but not necessarily a 10% cut in the herd.
Meanwhile there has been some price recovery for poultry farmers but again this falls short of meeting rising costs. According to the authority meal price is up €30/t and organic meal rose €20/t since 1 April, 2022.