Ireland now has “virtually non-existent” stocks of pork and bacon

Surplus stocks of pork and bacon are virtually non-existent in Ireland with the market for pigmeat in the country now classed as “extremely strong for the time of year” by the Irish Farmers’ Association (IFA).

Having highlighted the emergence of a €1.70c/kg (£1.45/kg) selling price last week, IFA Pigs Committee chairman, Tom Hogan (pictured above), welcomed the continuation up the market’s upward turn this week, commenting that most processors had increased quotes by another 4c/kg (3.4p/kg).

“This second 4c/kg increase in two weeks leaves pig farmers receiving prices ranging from a base of €1.66c/kg to well in excess of €1.70c/kg,” he said.

“As such, the current market for pigmeat is extremely strong for the time of year, with industry sources indicating that stocks of pork and bacon are virtually non-existent in Ireland.

“In addition, all indications point towards a continued strong market, both domestic and export for the coming months.”

Ireland’s percentage of the EU price is currently 105% of the EU average price as reported to the European Commission for the week commencing February 13.

Factory pig throughput in Republic of Ireland export plants for the week ending Feb 18 was 63,267 head which was 302 less than in the corresponding week in 2016.   Slaughtering’s in ROI export plants is 2.3% below the same period in 2016.

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