European market in turmoil, as COVID-19 continues to disrupt meat plants
A combination of plant closures and a Chinese ban on Dutch pork imports due to COVID-19 has sent European pork markets into turmoil, according to Thames Valley Cambac.
Pigs are being backlogged due to the plant closures caused by coronavirus outbreaks among staff in some European countries, TVC said in its latest market update.
“Prices that were on the slide were given further impetus by the announcement of a Chinese ban on Dutch imports due to Covid ,and this sent markets into further turmoil. Belgium and Holland both suffered double digit losses and Germany fell 6 eurocents,” TVC said.
The cull sow market continues to be very difficult for UK producers, with the exporters struggling to find homes for the volumes presented, not helped by the closure of the Tönnies plant in Germany. “Prices were similar, but space was the issue, and many hundreds of culls were rolled,” TVC said.
Price quotes in sterling eroded further due to a weaker Euro that ended the week down 0.45p at 90.12p.
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