The big change caused by coronavirus in meat markets is the switching of trade from food service out of home purchases to retail. Supermarkets and butchers have picked up most of the trade that isn’t taking place in restaurants with a particular emphasis on mince, which is disappearing from the shelves; steak meat is slower to move.

The closure of the restaurant trade across Europe is hitting South American imports, as this is their outlet for the huge volumes of steak meat that they export annually.

China is continuing to do business, despite logistical difficulties, with beef imports for the first two months this year from Australia running 17% ahead of the same period last year, though sheep meat exports are down 16%.

South American exporters are having more difficulties with Uruguay’s sales to China down 40% year to date.

This is reflected in cattle prices which are falling in South America though strong in the USA at the equivalent of €4.00/kg and €3.38/kg in Australia for steers.

Irish pig prices have slipped over the past couple of weeks to €1.85/kg for E grades and like other meat sectors is hit by loss of out of home eating.