Pig Market Update 20th May
The downward pressure continued on the pig price, both at home and across European markets. Pigmeat plants have experienced similar difficulties as all other meat processors with Covid-19 clusters emerging in many European factories and thus has led to delays in normal throughput.
The overall market continues to be flux, with a higher retail demand failing to fully offsetting the loss of sales through the foodservice sector, which largely remains closed. The main pig factories dropped the price by another 4c/kg leaving this week’s ranging from a low price of €1.68c/kg up to €1.72c/kg. Unfortunately, this price remains on the higher side when compared to current farmer returns across the main EU pig producing countries, with €1.60ckg being commonplace. IFA pigs Chairman, Tom Hogan said the Irish pig processors had good market access to China and product was not building up in stores. He called on all factories to stop the price cuts.