Pig Market Update 31st July

There was no announced change to Irish pig prices on Friday and producers are reporting quotes of at least €2.38 - €2.40 available from processors in ROI, with some pig farmers reporting up to €2.45/kg available signalling strong demand for ROI pigs.

The weekly throughput for week ending July 30^th as reported by the Department of Agriculture Food and the Marine was 64,875 of which 1,870 were sows.

Feed wheat prices on Euronext are continuing to fall, pressured by competitive Russian exports. In contrast, Chicago wheat futures rose due to strong demand and repositioning ahead of the USDA crop progress report. Paris rapeseed futures also dropped, following lower Chicago soybean prices amid forecasts of a bumper US harvest and slow export sales.

Hot and dry weather in Eastern Europe has led to reduced maize yield forecasts, with significant downgrades in Ukraine, Russia, Bulgaria, Hungary, and Romania. The EU's maize production is projected to be 3.7% below the five-year average, which could affect global supply and potentially support wheat prices due to expected shifts in feed demand.