Draft 24 Oct 2026
IQinAbox Insights · DFA Benchmark 1H 2026 ·

Who is squeezed hardest — total cost vs price received

x = total cost, all pigs (EUR/kg) · y = finisher price received (EUR/kg live) · bubble = kg produced. Top-right is the comfortable corner.

Rows 52, 125; INSERT DATA row 112 · PLUM-VE off-scale (2.76 EUR/kg, VES conversion) — omitted

Margin per kg — ranked

Finisher price received minus total cost (all pigs), EUR per kg. Group Ø = EU-6 simple mean, solid line.

EUR per kg · 1H 2026 · hatched = not comparable

What moved since 2H 2025 — margin per kg

Hollow dot = 2H 2025, filled = 1H 2026. Sorted by change; green moved the right way. EU-6 only — PLUM-VE (VES conversion) and RGD-DK (2H 2025 cost base) are left out.

Both rounds, rows 52 and 125 · PLUM-VE and RGD-DK excluded, see flags
So what

    Realised finisher price — ranked, with the national 3tres3 quotation

    Bars = EUR/kg live sold externally. Ring = the 1H 2026 mean of the national 3tres3 quotation, converted to live weight where the quotation is carcass. No quotation for Lithuania and Slovakia. PLUM-VE (2.76 EUR/kg, VES conversion) is off-scale and left out.

    Row 52 · 3tres3.com, read 24 Oct 2026 · carcass→live: DK ×0.76, PL ×0.78 (assumed) · PLUM-VE omitted

    Realised price 2H 2025 → 1H 2026

    Hollow = 2H 2025, filled = 1H 2026, EUR/kg live. Sorted by change. PLUM-VE left out (USD-linked price up 6 %, VES/EUR a single period rate).

    Row 52, both rounds · PLUM-VE omitted

    Market quotations, piglets and feed — 2H 2025 · 1H 2026 · Jul–Oct 2026

    Simple means of weekly 3tres3 quotations per window, in local currency and EUR. Bases differ by market — read the basis column.

    3tres3.com market pages, read 24 Oct 2026 · the 60 %/57 % in quotation names are lean-meat classes, not dressing yields
    So what

      Own-stage cost per kg — sow, weaner and finisher stage side by side

      Stage total cost with WIP removed (sow stage: gilts removed), so stages do not double-count. Each panel has its own scale and its own EU-7 Ø.

      Rows 86−74, 104−92, 122−110 · EUR per kg piglet / weaner / finisher produced

      Total cost, all pigs — ranked

      EUR per kg produced, five blocks: feed, labour, energy, vet & med, other. Ø = EU-6 total cost.

      INSERT DATA; row 125 · other = gilts, maintenance, overheads, bought pigs (RGD-DK)

      Feed-cost gap: structural (feed price) vs efficiency (FCR)

      € M per half-year on own volume. Price gap to the cheapest buyer (RGD-DK, 0.260 EUR/kg) is geography; FCR gap to the best (PLUM-VE, 2.40) is management.

      Rows 54, 39; INSERT DATA 112 · RGD-DK: no FCR gap (30 kg split)
      So what

        FCR prize — what matching the best whole-herd FCR is worth per half-year

        Whole-herd FCR — ranked

        kg feed per kg live-weight gain, sow to slaughter, over actual weights. No external whole-herd reference exists in kg/kg — the stage references are on the next chart.

        Row 39 · Ø over 7 (excl. RGD-DK) · hatched = not comparable

        Finisher FCR — raw and standardised to 115 kg, against three references

        Hollow = raw (actual sale weight), filled = standardised (−0.013 per kg above 115 kg). Reference markers are labelled with their unit and period and are never a gap.

        Rows 34, 37 · SEGES 2025 (FEsv) · PIGS365 1H 2026 (FUgp, 30–115 kg) · InterPIG 2024 (kg/kg)

        Finisher FCR history 2020 → 2026 — group Ø against the DK top-25 %

        Finisher and weaner stage FCR per round, as presented in the workbook. Dotted violet = the DK-25 % series as shown at the time.

        dfa-all-rounds.json → history · group Ø includes Tybjerggaard up to 2H 2025 · no whole-herd history exists
        So what

          Daily gain drives throughput — DLWG vs kg produced per finisher place

          x = finisher daily gain (g) · y = kg produced per finisher place per half-year (workbook definition) · bubble = kg produced. PLUM-VE omitted (place definition differs).

          Rows 35, 212; INSERT DATA 112 · r = 0.38 (n = 7)

          Finisher daily gain — ranked against three references

          g/day over actual entry → sale weights. Weight ranges differ (DAN-SL and GV-PL sell at 119–123 kg).

          Rows 33–35 · DK-25 % 2025 ~31→115 kg · PIGS365 1H 2026 standardised 30–115 kg · InterPIG DK 2024

          Finishers sold per place per half-year — the utilisation check

          Finishers sold ÷ finisher places. Below ~1.5 the barns are not full; PA-SL at 1.05 is a utilisation problem, not a growth problem.

          INSERT DATA rows 95, 245 · m² per place 0.65–0.77 everywhere except PLUM-VE (2.01)
          So what

            Mortality prize — direct sale value of the gap to the best, per half-year

            Wean-to-finish mortality

            % of pigs entered, weaning to sale. RGD-DK not comparable (30 kg split).

            Row 44 · DK-25 % 2025 computed from stage values

            Finisher mortality

            % of finishers entered. DK references are dead only; SEGES dead + condemned would be 2.6.

            Row 36 · DK-25 % 2025 · PIGS365 1H 2026 · InterPIG DK 2024

            Sow mortality

            % of average sows per year, dead and euthanised. SEGES 2025 national average as the marker.

            Row 14 · SEGES notat 2608 Tabel 4
            So what

              Does sow productivity pay? Weaned per sow vs total cost per kg

              x = weaned pigs per sow per year · y = total cost, all pigs (EUR/kg, reversed so up is better) · bubble = kg produced. Pearson r = −0.59 (n = 6, EU-6).

              Rows 18, 125 · r(weaned, sow-stage cost/kg piglet) = −0.49 (n = 7) · directional evidence only

              Weaned per sow per year — ranked against SEGES

              Row 18. Markers: SEGES 2025 national average 36.9, DK top-25 % 40.2, InterPIG DK 2024 35.6.

              Benchmark sheet · SEGES notat 2608 · InterPIG DK 2024

              Sow-stage history 2020 → 2026 — DFA group Ø against the SEGES national average and top-25 %

              DFA half-year rounds (solid, ink) against SEGES calendar years (violet, placed at the second half of each year). Weaned/sow, live-born, pre-weaning mortality, weaner daily gain, weaner mortality, sow mortality.

              Workbook history (incl. Tybjerggaard until 2H 2025) · SEGES notats 2204/2315/2408/2608
              So what

                Health cost per kg of whole-herd output, by stage

                EUR per kg produced, whole herd; each block = that stage's health-care spend ÷ whole-herd kg. Total = health cost / kg, whole herd.

                INSERT DATA 160+178+196 ÷ row 112 · EU-7

                Sow-farm hours per sow per year

                Sow-farm employee hours × 2 ÷ average sows. Pure management — it travels across borders where wages do not.

                Row 214 · RGD-DK other formula — excluded from Ø and best

                Electricity per tonne sold

                Farm electricity, kWh per tonne sold externally (feed mill excluded). Gap to best at 0.15 EUR/kWh (assumed) = € 1.9 M per half-year.

                INSERT DATA 248 ÷ 110 · PLUM-VE kWh comparable, EUR not
                So what

                  The six biggest single moves — unflagged efficiency KPIs

                  Hollow = 2H 2025, filled = 1H 2026; each lane has its own scale. Green = moved the right way; the % is direction-adjusted.

                  Both rounds · ranked by |direction-adjusted % change|

                  Improvement rank — mean direction-adjusted change over eight core KPIs

                  Whole-herd FCR, finisher FCR, finisher gain, finisher / weaner / pre-weaning mortality, weaned/sow, total cost — comparable KPIs only (n per company shown).

                  RGD-DK cost/margin/hours and PLUM-VE EUR KPIs excluded

                  Total cost, all pigs — 2H 2025 → 1H 2026

                  The cost side of the margin squeeze. Hollow = 2H 2025, filled = 1H 2026, EUR per kg. PLUM-VE hatched (VES conversion); RGD-DK has no comparable 2H 2025 cost base and is not shown.

                  Row 125, both rounds · RGD-DK omitted
                  So what

                    —

                    Deviation from group Ø — right is better

                    Percent deviation from the comparable-set Ø, direction-adjusted so that right always means better. KPIs where the company is not comparable are left out.

                    Benchmark sheet 1H 2026 · Ø per KPI over its comparable set

                    Cost structure vs group

                    EUR per kg whole-herd output, five blocks, all companies plus the EU-7 Ø row — yours is named in teal.

                    INSERT DATA; row 125 · other = gilts, maintenance, overheads

                    Value of closing each gap — EUR per half-year on own volume and own prices

                    Gap to the chosen target × EUR per unit (own feed price, own pig prices, own sows). Efficiency rows are actionable and add to the total; the feed-price row is structural and shown for context.

                    Target
                    Annual ≈ × 2 · values overlap across KPIs (mortality and FCR), so the total is indicative

                    Flags on this company — please comment at the meeting

                    Each note says what looks different in the data and what the group would like the company to explain.

                    So what

                      SEGES Landsgennemsnit 2020 → 2025 — with the DFA group Ø alongside

                      National weighted averages per calendar year, the 2025 top-25 % (medians), and the DFA group Ø for the last two rounds. SEGES FCR is in FEsv per kg; DFA FCR is kg per kg.

                      SEGES notat 2608 (2 Jul 2026) and earlier notats · DFA workbook history

                      DK top-25 % column in the DFA workbook

                      Column K of Benchmark 1H-2026_Group — the reference the group has always used. Note the FCR unit question.

                      src_1H2026.xlsx col K · SEGES notat 2608

                      PIGS365 — Danish population, 1H 2026

                      IQinAbox's own population: top-25 % threshold, population mean and the top-10 overview. FUgp per kg, standardised 30–115 kg (finishers) and 7–30 kg (weaners).

                      my.pigs365.dk hitlist and overview, read 24 Oct 2026 · ≈ 200–230 finisher farms

                      InterPIG — cost of production per kg carcass

                      EUR per kg carcass, full chain, new-build capital basis. 2025 are trade-press headline figures. Context only — never a gap against DFA EUR per kg live.

                      SEGES Rapport 69 · top agrar 8 Dec 2025 and 9 Oct 2026 · AHDB 24 Nov 2025

                      3tres3 quotations — the market each company sells into

                      Simple means of weekly quotations per window; latest weekly quote as read on 24 Oct 2026.

                      3tres3.com market pages · bases differ by market

                      Formulas and conventions

                      Every chart's ⓘ repeats the formula that applies to it

                      Comparable sets — who is in each Ø

                      Group Ø is a simple mean over the KPI's comparable set. Flagged companies stay in the picture (hatched) but out of the Ø and the "best".

                      meta.keymeta · method.kpi_sets

                      Flag register — what is different, and what we ask the company to explain

                      Chips on the views open the same text

                      Sources and data vintage

                      Built 24 Oct 2026 · build_analysis.py