Pig farmers hit by new slump in profitability, says Teagasc chief

TEAGASC chief Gerry Boyle has confirmed that a 43c per kg slump in profitability has left pig farmers with inadequate returns on investment.

He told this week’s Teagasc National Pig Conference that pig prices have been declining and feed prices have risen very sharply in recent months, leaving the profit margin over feed costs insufficient to cover non-feed costs. Producers are also struggling to recover from substantial 2007 and 2008 losses, said Mr Boyle.