Feeders set for lower wheat prices

LIVESTOCK feeders can look forward to lower wheat prices, according to Michael McKeon, speaking at the recent Teagasc Pig Farmers’ Conferences.

He indicated that pig farmers are unlikely to be hit by a repeat of the largest monthly rise in international wheat prices since 1973, which occurred in July, 2010, in tandem with a substantial rise in barley and soya bean prices.

This resulted in the composite pig feed price in Ireland increasing 33% from July 2010 to July 2011, and a financial loss in most Irish pig units for the 12 months to last September.