PIG MARKET UPDATE 31st MARCH

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PIG MARKET UPDATE 31st MARCH
31 Mar 2020

PIG MARKET UPDATE 31st MARCH

Pigs, Prices

All processors held quotes this week, following the trend across the EU, with the market stabilising, albeit at lower prices than anticipated before the Coronavirus disrupted worldwide trade.

What is clear after the past two weeks of turmoil, the foodservice sector is effectively reduced to a small percentage of what is was consuming, and not just in Ireland but across the globe. Retailer demand has jumped significantly, but this demand comes with more stringent specifications, and demand is not universal across the entire pig carcass. Regarding the valuable trade to Asia, there is positive news emerging that orders are starting to come into Europe for volume of pigmeat again, and the priority must be to get these distribution channel back flowing again. The importance of keeping the sector processing sector operating is vital, and IFA will continue to liaise with the DAFM and processors to ensure this

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