Strength in pig markets this week...

Pig prices are higher globally because of demand. File Picture.  

IFA says further increases last Friday left pig prices just below €1.70/kg, but reported deals were at around €1.74.

Irish pig farmers requires €1.70 to cover costs of production and remain viable, according to IFA. 

Meanwhile, sow prices on offer are 84-93c per kg deadweight.

Rabobank this week said EU pig prices have rebounded 22% in 2021, due to tight supply and demand improvement.

Higher prices help offset rising feed costs, but are still 16% below last year’s export-driven prices. Production is growing in Spain, Denmark, and the Netherlands, declining slightly in Germany and Italy. 

Exports remain strong.

Globally, prices are sharply higher in most markets, as processors scramble for supplies. 

Higher disease losses in key regions and the delayed impact of industry liquidation during the pandemic, have limited supplies. 

Rabobank expects a gradual recovery in the herd, yet higher costs and demand uncertainty are expected to moderate the pace of growth.