Pig Market Update 11th March
The Irish pig price has settled this week, albeit at lower than what pig farmers has anticipated they would be receiving for their pigs a few weeks ago. IFA Pigs Chairman, Tom Hogan met with, and spoke with all main processors in recent days, reiterating the IFA response to recent cuts to the pig price.
As all processers confirmed, the fundamentals of the world pigmeat market remain very good for an exporting country, with major deficits in China. The coronaviruses has impacted on the ability of logistics to operate as they normally would. Delays in shipping, road haulage and secondary processing in China have all held up consignments heading from Ireland and the EU to China. There is a temporary backlog due to the coronavirus impact, but the demand for product remains as high as ever and will return, the only question is when.