Covid-19 causing 'serious devaluation' of finished livestock prices

Meat processors said today the Covid-19 pandemic is causing “serious devaluation” of finished livestock prices, as key market channels and certain EU markets are effectively closed, and the mix of sales through retail outlets is skewed heavily towards lower value cuts.

Meat Industry Ireland (MII) Senior Director Cormac Healy said MII has communicated these market issues to all the stakeholders and to the Government. “While traditional market supports [intervention and Aids to Private Storage] may not work in this case, other forms of support must be brought forward by the European Commission without delay,” said the processors' spokesman.