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.

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.

There’s only one story dominating all markets, including the pigmeat market this week, Coronavirus. Market forces generally dictate the price of food, but it’s the value of food rather than the price, that has risen to the fore in the past week.

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.