September brings cooler pork market
IFA says many pig suppliers learned last Friday of a 4c/kg reduction for this week’s pigs, bringing price cuts over the past month to 14c.
Since the end of May, the EU average weaner price fell by €11.68, to €47.44/head at the end of August.
Although still above year earlier levels, the downturn in weaner prices backs up reports of the EU supply of pig meat increasing, while demand is relatively subdued.
On the world market, the export traded pork volume in the second quarter of 2017 was estimated 14% lower than year earlier levels, due to weaker Chinese demand.
But prices were supported by the relatively low level of global pork supply. That could change if an expected production increase materialises in the second half of the year, which may be especially felt in the EU market.
Although steady German pig prices indicate an unchanged EU market, September has brought a cooler market in the UK, but this may be linked to the closure after a fire of the QPL Brechin processing plant which accounts for around two-thirds of pigs slaughtered in Scotland. Locally, the pig herd in Northern Ireland has increased 8%.