There was no announced change to the Irish pig price from the bigger factories last Friday but the 4c/kg increase received from one of the smaller plants in ROI was welcomed by their suppliers. According to the IFA, farmers are receiving quotes of €2.00c/kg up to €2.08/kg.
Losses have been mounting on Irish pig farms for a full year and Teagasc estimates the total loss for the average size 600-sow unit to be in excess of €400,000. The EU pig price is steady – averaging at €1.93/kg for Grade E carcass. This represents a 29% increase in one year.
Pig prices are at a record high but so are input costs over the past number of months. This is hampering margins.
Feed prices may not fall as much as expected due to very high energy and transport cost increases. Feed ingredient future prices (wheat, barley, maize) continue to trade at €320-€330 for Matif Sept delivery, which is circa €100 below the 22 May, 2022 peak of €435.
The market focus is on the Black Sea safe corridor. A further four shipments left yesterday (combined 110k tonnes) with another 18 ships ready to depart in the coming week or two. These are all ships that were blocked-in-port. No new ships have docked yet in Ukraine ports.