Irish producers are receiving up to 20c less than €2.20/kg – the price that Teagasc estimates is breakeven. Some farmers are reporting current losses of more than €25/pig.
There was no change to the Irish pig price last Friday. Farmers are receiving quotes of €2.00c/kg up to €2.08/kg.
European market prices continue to increase as pig supply tightens. The French pig price is now at €2.30/kg while the UK pig price is at €2.34/kg.
Wheat and maize update
Matif September 2022 delivery wheat and maize remain in the region of €300 to €335/tonne. This week, the EU maize production forecast decreased by 10Mt (now est. 55Mt) from last month due to high temperatures/drought across Europe.
France is experiencing its fourth heatwave this summer with a consequential production forecast 18% lower than last year (French Farm Ministry). The US is also experiencing drought problems, with their crop rating falling 3% on the week to 58% “good-excellent”. Soybean (oil export) continues to trade at €575 /tonne.
As of Saturday 13 August, 2022, 16 ships have departed from Ukraine with a total tonnage of 450,000t. At this rate the total tonnage for the month would be ~ 1-1.2MT. The Ukraine monthly export pre-war was ~ 6MT so the volume, while welcome, is still very limited/slow.