Coronavirus continues to ‘severely hamper export markets at a time also of ‘poor’ domestic demand, according to Thames Valley Cambac.
Overall, the supply chain was ‘relatively unscathed’ last week, after a couple of unreliable weeks in terms of factory breakdowns, TVC said in its latest market update.
“Most of the majors planned to process minimum numbers with the general consensus being that domestic demand was poor and export potential was severely hampered by disruption in the Far East supply chain caused by COVID 19,” it said.
“Supplies continued to be tight, with little hint in forecasts to suggest any improvement soon. The fresh meat market was a touch more buoyant, with demand being helped by less import pressure due to the fact that continental markets are dearer.”
The cull sow market was lifted by a penny in response to stronger German quotes, while 5.5 eurocents was added to the Dutch price and Spain breached the 2 €/kg level. Quotes in sterling were further enhanced by a stronger Euro that ended the week up 1.85p at 87.16p.
Fatteners continued to struggle to find spare accommodation, and this had a knock on effect on demand, although supplies remained tight, with recent production issues trimming numbers, TVC added.
AHDB prices saw a 30kg store pig quoted at £57.99, and the weighted average for a 7kg weaner rose by 67p to £42.20.
European Prices | (p/kg.dwt) w/c 08/03/20 | Movement on last week | |||
European Av | 167.26 | + 4.16 | |||
Denmark | 166.82 | + 3.54 | |||
France | 162.13 | + 5.39 | |||
Germany | 176.07 | + 3.74 | |||
Ireland | 166.49 | – 0.73 | |||
Holland | 165.35 | + 8.13 | |||
Spain | 174.33 | + 5.70 |
(Ref Weekly Tribune)