No change in Irish pig prices with farmers receiving €1.64c/kg – €1.68c/kg again this week. Markets across major EU pork producers were slightly down last week, on the back on continuing processor distribution due to Coronavirus. The worldwide pigmeat market is driven by normal market factors, with supply and demand ultimately determining were the price fluctuates towards.
This should indicate that the pig price would gravitate back towards €2/kg in Europe, where it was before Coronavirus hit. The disruption to supply chains and the route to market has no doubt put extra cost on to these supply chains, but the demand at retail level, should ultimately transfer back to the primary producer as a price increase. IFA Pigs Chairman, Tom Hogan stated that after the recent period of price stability, which was needed to restore farmer and financial institution confidence in the pig sector, the price needed to increase.