Pig Market Update: Prices and Throughput

Prices

Deadweight pig prices in Ireland are on an upward trajectory in response to relatively tight supplies for slaughter. Last week saw an increase of 4c/kg in Irish pig prices, with producers reporting an average of €2.20 available from processors.

Others reported getting prices 6-7c/kg higher, signalling a good demand for pigs. The average reported price paid for grade E pig prices in Ireland for the week ending April 6th, 2025, was €2.10/kg excluding VAT.

The current Irish price is 3.4% higher than the corresponding week last year when the grade E pig price was €2.09/kg. The EU average price for the week ending March 22nd, 2025, for grade E carcass was €1.84/kg excluding VAT. This represents a slight increase of 2.9% in last week’s EU average price and is 13% behind prices for the same month last year, when the EU average pig price was €1.90/kg.

Throughput

While throughput has improved in the last quarter, demand continues to run ahead of supplies. Total throughput year-to-date is 904,390, which is marginally behind the corresponding period in 2024. The throughput for the week ending April 6th was 64,217, of which 1,970 were sows.

Average EU deadweight cattle prices have risen dramatically over the past few weeks, decreasing the difference between continental and GB prices. This article explores the reasons behind this surge and what it could mean for the UK beef market.

Key Points

• The average European beef price has risen faster than the GB price, eroding the price differential, which stood at 94.8 pence for steers of R3 specification in the week beginning 31 March. This makes UK exports more competitive but increases the price of imports.
• Beef supply across the EU is forecast to fall in 2025, potentially lending further support to prices.
• The top supplier of beef imports in 2024 to the EU was the UK, providing 93,200 tonnes of beef, making up 31% of total beef imports into the EU and valuing £502.9 million.

Prices

In the week beginning 31 March, EU steers rose on average by 18p/kg. For R3 steers, this represents a 36% increase in price from the same time last year. Over the past few weeks, the average European beef price has risen faster than the GB price, eroding the price differential, which stood at 94.8 pence for steers in the week ending 31 March.

Selected EU Deadweight Cattle Prices (p/kg)

• Young bulls category AR3
• Steers category CR3
• GB price is AHDB R3 steer average

Source: European Commission, AHDB

The increase in the average EU steer price has been predominantly driven by movements in the Irish market. The average price of an Irish R3 steer stood at an equivalent of 643.8 p/kg, up 26 pence from the week before, closing the gap with the GB R3 steer price to 53 pence. This was down from a historically wide differential of 117.4 pence in mid-February and is back to a position last seen in mid-2024.

Due to the beef trading relationship, the Irish beef price is closely linked with GB beef prices, with the current strength of the British market supporting averages across the Irish Sea. Irish cattle kill has been elevated so far in 2025, but supply is forecast to tighten through the year. Meanwhile, live exports of Irish cattle have grown strongly again so far in 2025, with Bord Bia reporting particular growth in shipments to Northern Ireland, Spain, and Italy.

Production

Elsewhere, beef supply across the EU is forecast to fall, as suckler herds contend with low profitability and stricter sustainability regulations. The European Commission predicts a 7.5% fall in suckler cow numbers by 2035 to 9.5 million head. Dairy herd numbers are also forecasted to fall, albeit more steadily, with a long-term declining trend of -0.3% year-on-year. This means that in the future, there are likely to be fewer beef calves entering the system.

However, 2024 saw significant variation across the bloc. Beef production decreased or remained relatively stable in states such as France, Germany, and the Netherlands but saw marked increases in Spain, Italy, and most significantly in Poland. In 2024, Poland saw production increases of 24%, primarily driven by a rapidly growing export market to Turkey.

Trade

Total external EU-27 beef exports grew by 10% year-on-year in 2024 to approximately 690,000 tonnes (including offal). The most significant destination for these exports was the UK, but export volumes to Turkey and Algeria have seen remarkable growth. EU beef exports to Turkey were up by 30,300 tonnes in 2024, representing a 70% rise from 2023 levels, and volumes to Algeria rose from 400 tonnes to 29,000 tonnes in 2024.

Meanwhile, EU import volumes of beef also grew in 2024 by 8% to 299,000 tonnes. In 2024, the top supplier of these imports was the UK, providing 113,600 tonnes of beef (including offal), making up 31% of total beef imports into the EU and valuing £577 million. 52% of the remaining import volumes into the EU originated from the South American states of Brazil, Argentina, and Uruguay.

Future Implications

Moving forward, these trading relationships could well change due to the potential implications of the EU-Mercosur trade deal. If ratified, the deal could encourage higher volumes of competitively priced South American beef into the EU, pressuring farmgate prices. However, the upcoming EU Deforestation Regulation may compromise market access, and the market impact of this is yet unclear.

Australian Cow Market Sees High Volatility Amid Record Prices and Shifting Fundamentals

The Australian cow market is currently experiencing heightened volatility, driven by a combination of record prices, shifting supply and demand fundamentals, and external pressures such as adverse weather and evolving geopolitical developments.

According to Emily Tan, Market Information Analyst at Meat & Livestock Australia (MLA), producers are actively capitalising on historically high prices, although recent fluctuations reflect the delicate balance of market forces.

Market Fundamentals and Supply Trends

The recent volatility is closely tied to market fundamentals—particularly supply and demand dynamics. As supply increases, particularly of leaner cows, prices have begun to ease. However, many producers are still entering the market to take advantage of cow prices at their highest in over three years.

Cow Price Trends – March to April

• Processor Cow Indicator:

  • Final week of March: 304¢/kg liveweight (lwt)

  • Last week: Rose by 33¢ to 319¢/kg lwt

  • Current price: 10% above the previous week, and 28% above the 10-year average

• Wagga Saleyards:

  • 7 April: 2,150 cows yarded

  • 14 April: 1,995 cows

  • Heavy cow prices: 322–360¢/kg lwt

• Dalby Saleyards (9 April):

  • 991 cows yarded

  • Prices eased by 27¢ to 285¢/kg lwt

  • Previous week: 513 cows yarded, prices lifted by 31¢ to 312¢/kg lwt

Increased yardings—particularly of leaner cows—have driven price softening, while heavy cows continue to attract premiums.

Regional Price Variations

The regional cow market continues to reflect varied conditions:

• Wagga: Heavy cows achieving up to 360¢/kg lwt

• Dalby: Prices dipping to 285¢/kg lwt amid increased supply and easing quality

These regional differences underscore the impact of localised supply conditions, buyer demand, and market readiness.

External Influences: Weather & Geopolitics

External events are compounding market uncertainty:

• US tariff policies are shifting global meat trade dynamics

• Flooding in Western Queensland has disrupted supply chains and impacted livestock conditions

These factors are prompting greater caution among producers as they attempt to navigate an unpredictable marketplace.

Outlook: Uncertainty Amid Strong Demand

The Australian cow market remains robust but volatile, with producers attempting to seize favourable pricing despite uncertainty. Ongoing shifts in weather, global trade policy, and supply quality are likely to continue driving market fluctuations in the months ahead.

Key Takeaways:

• Cow prices are at a three-year high, but market volatility is increasing.

• Leaner cow supply is softening prices, while heavy cows remain in demand.

• Regional markets show significant pricing variations.

• External factors like weather and trade policy are influencing market behaviour.

Source: Emily Tan, MLA Market Information Analyst

Weekly Cattle and Sheep Market Wrap: Prices Take a Downturn

Cattle Market Insights

The cattle market experienced a downturn this week. With a continued dry outlook, producers tried offloading more cattle, leading to yardings lifting by 21,192 to 81,876 head. Despite price lifts in Queensland and Victoria, buyers were more selective, looking for better lines of yearlings. The Restocker Heifer Indicator lifted by 10¢ to 286¢/kg liveweight (lwt).

Sheep Market Insights

The sheep market ended the week in the red for all indicators. Combined sheep and lamb yardings lifted by 19,421 to 316,823 head, with market reports indicating an increased number of buyers. However, prices were erratic. The Light Lamb Indicator eased by 30¢ to 697¢/kg carcase weight (cwt), with prices dropping in most states. Victorian saleyards reported light lambs sold into the Middle East, winter feeders, and store orders held their value while other animals struggled to maintain last week’s prices. There was a noticeable drop in the number of heavy lambs on offer due to the lack of quality lambs presented.

Processors appeared to prefer grain-finished lambs over grassfed lambs this week. The Trade Lamb Indicator eased by 24¢ to 771¢/kg cwt. Trade lambs at Wagga Wagga witnessed prices dropping by $8–11 to $138–200 per head compared to last week.

Slaughter Figures

For the week ending 14 March, cattle slaughter eased by 2,819 to 130,198 head. Numbers remained low due to processor closures. Queensland slaughter lifted by 3,389 head, though still lower than two weeks ago. Slaughter eased in NSW (2,012 head), Tasmania (1,015 head), and Victoria (3,913 head).

Public holidays in several states led to combined sheep and lamb slaughter easing by 48,392 to 651,235 head. National sheep slaughter eased by 10,931 to 194,797 head, while lamb slaughter eased by 37,461 to 456,438 head. Lamb slaughter eased in Victoria (38,904 head), Tasmania (2,107 head), South Australia (7,146 head), and Queensland (221 head).

Content attributed to Emily Tan, MLA Market Information Analyst.