Beef, sheep meat and pig meat have each performed slightly differently, with pig meat sales in particular holding up relatively well, however the stock-piling induced demand which soared in the initial weeks of lockdown in response to the widespread closure of eating out establishments has dropped.
The up to date weekly data shows that more recently, demand for red meat that was eaten out of the home, has only partially been replaced by higher retail sales.
“We have assumed a complete closure of the eating out market (not including take-aways and deliveries), which covers around 80% of the foodservice sector,” Mr Wyatt commented.
“Many office canteens, schools and other institutions are also closed, not included in our eating out volumes, but before the lockdown accounting for around 12% of foodservice demand. As such, demand overall is likely to be even lower than this analysis indicates, albeit slightly.”