Irish pig prices up 4c/kg this week
Week Grade For For Pig European Carcass E Vat) Average A 26 €2 21/kg Price The (excluding Was
Irish pig prices saw an increase of 4c/kg paid on Friday, with producers reporting quotes of at least €2.36-€2.40 available from processors. With some paying as much as €2.42/kg, it signals strong demand for Irish pigs.
The average European price for a grade E carcass pig for week 26 was €2.21/kg (excluding vat).
The weekly throughput for the week ending July 7 was 60,833, of which 1,887 were sows.
The latest report from AHDB said that despite the positions held by speculative traders, over the longer-term the outlook for prices is determined by the market fundamentals - supply and demand. Uncertainty over the outlook for wheat markets remains, with some crop estimates cut further, but others have upgraded recently.
Stocks in key exporting countries are already low and predicted to decline further, meaning there’s a limited cushion to any supply issues. Unfavourably hot weather is expected in Russian spring wheat growing areas this week, while ongoing harvests will also give more insights into potential crop sizes. The Russian crop number will be among the figures watched in the USDA’s next estimates of world supply and demand on Friday.
