The Irish pig price increased by 4c/kg on Friday, 19 August, 2022 with farmers receiving quotes of €2.06c/kg up to €2.10/kg from processing plants.
The IFA welcomed the news but pointed out that given the losses that have been and continue to mount on Irish pig farmers more upward movements are needed to return farmers to profitable margins. It will take quite some time to recoup the losses that have been incurred to date.
The European pig price continues to increase as pig supply tightens. The French pig price is now at €2.40/kg – up 10c on last week – and the Spanish price is at €2.22/kg. The UK pig price is at €2.39/kg (up 5c on last week).
Meanwhile, the first shipment of grain has arrived in Foynes Port Limerick from Ukraine since the outbreak of war. This marks a significant milestone with trade between Ukraine and Ireland resuming, but also a significant step forward for global markets.
Matif September 2022 delivery wheat and maize remain in the region of €300-€335/tonne. There were concerns over the drought in the key maize growing states of the US in particular but showers have eased some concerns around this year’s crop. Shipments continue to be exported from Ukraine.