Pig Market Update 4th September

There was an announced drop of a further -6c/kg in pig price on Friday last kg in ROI processors, with producers reporting quotes ranging from €2.28 - €2.34 available from processors in ROI. Prices in Northern Ireland and the UK are still strong, with strong demand for pigs. The Standard Pig Price in the UK reported by AHDB currently is £2.06/kg (€2.44/kg). Their price has been pretty much stable there since Q1 this year.

Rapeseed prices dropped by €21/t on Euronext's November 2024 futures yesterday, following a 7.3% plunge in Canadian canola prices in Winnipeg. China, a major buyer of Canadian canola, announced an anti-dumping investigation, raising the risk of import halts. This move is in response to Canada's new taxes on Chinese steel and electric vehicles. A situation comparable to their anti-dumping investigation into EU pigmeat.

The English pig breeding herd has fallen to the lowest level on record according to DEFRA's June 2024 livestock population update. The breeding herd, including boars fell back by a further 1% to 325,900 head, the smallest on record. There was also a 5.3% fall in the number of in-pig gilts to 29,600 head.In ROI the throughput for week ending 1/9/24 was 64665 of which 1790 were sows.