Pricing and availability on all products will be hampered by the short two weeks of production caused by the Easter break.
Pork prices remain critically high, but the supply chain appears to be coping well with coronavirus, as well as the dramatic shift in demand away from foodservice and into supermarkets. Domestic demand is high with increasing concerns that export demand will rise, especially now that China is getting back into the markets for products as the lockdown restrictions lift. As we noted last week, due to this and other critical factors, such as the ramifications of African Swine Flu, prices are expected to remain extremely high.
The situation here remains largely unchanged, with product coming back into the catering sector. Cutting plants are still costing the animal out in order to put steaking cuts into diced products (which is unheard of normally).
Prices remain volatile, with forequarter cuts being level with the normally more expensive hindquarter cuts.
There is talk that if demand and supply doesn’t return to somewhere near normality, producers may start lowering production to get pricing back in line; this has already happened in Europe. This would be likely to have a negative impact on availability and pricing of product.
Much like beef, lamb legs in particular remain in short supply due to customers panic buying. Legs of lamb went up a staggering 35% in price in some areas of the country
With China now back in the market for product, this will most definitely slow down product coming into Europe from Australia and New Zealand and will inevitably push prices up going forward.
Forward pricing from both Australia and New Zealand is up considerably and looks to rise rather than fall.
Pricing remains firm with no signs of prices coming back any time soon especially with fewer old lambs and spring lambs coming into market.
Chicken, as with the other species, has seen prices rise over the last few weeks by up to 35% in some cases.
As with pork and lamb, China is back in the market for product; this may influence product coming into the U.K
Although prices seem to have flatlined this week there is talk of a price hike again next week and the shorter working weeks over Easter could have an impact here.