Pig farmers look for at least €1.90

IFA Pigs Committee Chairman Tom Hogan has called for all farmers to be paid at least €1.90/kg, after the main pig processors left their official quotes unchanged for this week at €1.84-1.86/kg.

He said there is a noticeable improvement in competition between factory procurement managers and agents for pigs, leading to deals at higher than the quoted prices, with the higher prices more likely further north in the country.

Pork prices in Europe have jumped 35% since the start of the year, to an average of about €1.82 a kg.

Market analysts say meat processors are mainly absorbing the price increase, by accepting reduced profit margins.

But if prices continue to rise, retailers will have to pay more for pork products, and pass that on to customers in higher prices.

Despite the rising market, some European pig farmers, especially in Germany and the Netherlands, had little scope to increase production capacity because of tightening environmental and livestock regulation