Pig farm incomes have stabilised in recent years after a sharp decline from 2021-2023, according to latest Teagasc Outlook 2025 farm income estimates, published yesterday (Monday, July 29)

Prior to 2022, Ireland had a stable sow herd of about 145,000 sows. The Irish sow herd contracted significantly in 2022 (-14,000 sows), as a result of input cost inflation due to the war in Ukraine.

In the interim, Irish pig slaughter volumes have stabilised and are now recovering.

In the period January-June 2025, Republic of Ireland (ROI) slaughter plants throughput is up 6.4% year-on-year and Northern Ireland live exports are up 25% (+18,282 head).

Irish pigmeat year-on-year export volume (January-May 2025) is virtually unchanged (+1%), but the import volume is estimated to be substantially higher at 8%, due to increases in Northern Ireland and Polish import volumes.

The sector had an income loss for 20 consecutive months from August 2021 to March 2023, with an average financial loss of €522,000 per farm.

In 2023 and 2024, the sector returned to profitability and this period of profitability has continued into 2025.

The continuing tighter supply of EU pigs for slaughter and the high cost of alternative protein sources, indicates that farm gate pig prices will remain moderately good.

The outlook for feed ingredients continues to be positive, with good yields expected in the northern hemisphere, especially in the US. The outlook is for downward pressure on feed prices.

Feed is the largest input in pig production, currently representing 72% of total production costs.

After the outbreak of the conflict in Ukraine, feed prices rose to a historic high in 2022.

Composite pig feed prices have since declined by €113/t from December 2022 to June 2025 (€482 vs €369) but remain at a relatively high level when compared to a 10-year average (€340/t).

Energy prices also increased significantly after the onset of the war in Ukraine, but have now fallen from 8c/kg to 5.5c/kg.

Since 2020, manure costs have increased by 61% (1.8c/kg) and environmental costs by 100%.

The current Irish pig price (July 2024) is €2.06/kg. The Irish pig price has increased from €2.09/kg (January 2025) to peak in June (€2.26/kg) but has declined in recent weeks to more moderate levels.

Pig prices in other EU countries are down 4.1% year-on-year (January-June) but remain at a moderate level (€2.05/kg), due to the reduction in the EU sow herd in recent years.

Irish and EU pig prices are expected to remain relatively stable for the remainder of 2025, due to the continued tight pig supply and the high consumer price point of alternative protein sources.