Pig Market Update 24th March
A week of turmoil for all agricultural sectors, but the pig sector had a serious disease scare, combined with the continued negative impact of Covid-19. Downward pressure continued on pigmeat markets, with the closedown of the foodservice sector.
All main pig factories dropped the price by another 4c/kg leaving this week’s quotes from a low price of €1.84c/kg in Rosderra and Kepak with up to €1.88c/kg still being given to suppliers of Dawn Pork & Bacon. This downward price pressure has seen similar trends across the EU, but the strong retail demand is expected to stabilise the markets and the pig price. IFA Pig Chairman, Tom Hogan said that this strong demand from retailers will ensure that the pig price doesn’t fall any further. The importance of keeping the sector operating is vital, and IFA will continue to liaise with the DAFM and processors to ensure this happens.