Pig prices have stablised in the region of €1.80/kg to €1.82/kg. Prices are now about 40c/kg higher than last year, when pigs were being sold under their cost of production.

Each pig sold now is worth about €32 more, and for an average unit selling 350 pigs per week, turnover is up by about €11,000 per week.

IFA pigs chairman Tom Hogan said this is allowing producers start repaying the debts built up last year. By last spring, the average producer owed for six months of feed.

Future prices will be influenced by demand from China, EU pig output and Brexit. EU pig supply normally rises seasonally in the autumn, causing prices to ease. Over half of Irish pigmeat exports go to the UK. However, demand for imports in China remains very strong and that will be a positive influence on prices.