Irish pig farm leaders say that all current indications point towards a positive second half of the year for producers, a prospect which they describe as “undoubtedly well overdue”.
In arguably his most upbeat weekly market comment for at least a year, Irish Farmers Association (IFA) pigs committee chairman, Pat O’Flaherty, said the latest 4c (3.15p) pig price rise was “very welcome news” for farmers.
“The increase brings prices up to €1.52/kg (£1.20/kg) and shows they are moving in the right direction,” he said. “However, the cost of production remains at €1.58/kg (£1.25/kg), so farmers need prices to keep moving upwards before any real profit can be realised.”
Mr O’Flaherty (pictured above) said that a number of indicators had led the IFA to believe that today’s positive pig price trend will continue over the coming weeks and months.
“The European Football Championship, for example, should prove a big boost right across Europe during the month of the competition,” he said, quoting Tesco’s game-related price rise projections for BBQ meats and sausages.
“Although all indications point towards a positive second half of the year for pig farmers, however, the move is undoubtedly well overdue.”
Factory pig throughput in Republic of Ireland export plants for the week ending June 4, 2016, was 62,400 head which was 1,646 more than in the corresponding week in 2015, reported IFA. Slaughterings in the country’s export plants are currently running 6.5% ahead of the same period last year.
