“Moderate profitability” is expected for Irish pig farmers over the coming year, according to the latest outlook from Teagasc.
The 260 pig farms in Ireland vary in size, with the average herd holding 530 sows, with the main breeds being Large White, Landrace and Duroc.
In 2024, Teagasc said that the annual average feed cost was 134c/kg dead weight (dwt) sold, 14% lower than 2023, but still 12% above pre-Ukraine war levels.
Pig prices last year averaged 220c/kg dwt, slightly below 2023 (224c/kg) but higher than the five-year average (192c/kg).
Pig slaughter increased by 2.8% to 3.58 million head, with a slight rise in the national sow herd to 138,000.
Irish pigmeat exports grew by 2.3%, with modest gains to China (+1.4%), although volumes were significantly lower compared to 2021.
Pig farmers
Looking ahead to 2025, Michael McKeon from Teagasc said that feed prices are expected to decrease moderately (-2%) to 130c/kg dwt driven by better global harvests and contract milling trends.
The forecast for price stands at 202c/kg dwt, reflects reduced EU exports, continued tight supply, and weak Chinese import demand (down 12% in 2024).
McKeon said that the expected margin-over-feed (MOF) is 72c/kg, “indicating moderate
profitability”, lower than the 2024 MOF of 86c/kg.
The report said that there is continued tight pig supply in the European Union due to decreased sow herds in major producing countries.
However, Spain remains the exception with marginal herd growth of 1%.
McKeon noted that weak demand and potential trade tariffs on EU pigmeat could pressure prices further.
Among the challenges facing pig farmers are African Swine Fever (ASF) outbreaks in
Europe, regulatory pressures increasing costs and the uncertainty around Chinese trade policies.
“Despite early 2025 price drops, moderate profitability is anticipated due to lower feed costs in the second half of the year.
“Continued focus on efficiency and market adaptation is essential for sustaining gains,” McKeon said.