PIG MARKET UPDATE 27th MAY

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PIG MARKET UPDATE 27th MAY
27 May 2020

PIG MARKET UPDATE 27th MAY

Pigs, Prices

The situation for Irish Pig farms has gone from bad to worse in the past week, with further price reductions of 4c/kg. While price is no down to around to the average price across the EU of €1.64c/kg, throughput remains a key concern to the industry.

Pigmeat plants continue to experience difficulties due to Covid-19, and restrictions in place are slowing down production in both slaughter lines and boning halls. The EU market appears to have bottomed out, with signs that production issues are being overcome, and a positive turn in the market. IFA pigs Chairman, Tom Hogan said the fundamentals of the worldwide pigmeat market remain as they did pre Covid, very positive. There is worldwide shortage of pigmeat to meet demand and this pandemic will add to this shortage. Once production capacity is back working on full tilt in Ireland and across the EU, and more direct links back to the consumer resume, Hogan said that the demand will see pig prices return to levels experienced pre Covid.

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