New Zealand Pork Industry Faces Surplus Amid COVID-19 Disruptions

In the given passage, the market being referred to is the pork industry in New Zealand. Let's analyze the concepts of demand, supply, equilibrium price, and quantity based on the information provided:

1. Demand: The demand for pork is impacted by the Covid-19 disruptions, with many restaurants closed or operating on a reduced scale. The reduced demand from the hospitality sector and limited access to butcher shops due to lockdown measures have contributed to a decrease in the demand for pork.

2. Supply: The supply of pigs in the pork industry is at risk of becoming a surplus due to the reduced demand and limited processing capacity. With restaurants closed and butchers operating at a reduced scale, pig farmers are facing challenges in maintaining their production cycle and finding outlets for their products.

3. Equilibrium Price and Quantity: The passage does not explicitly mention the equilibrium price and quantity. However, the situation described suggests that there is likely to be an imbalance between supply and demand in the pork market, potentially leading to a surplus of pigs. This surplus could result in a decrease in prices as producers try to sell their excess supply.

Please note that without specific data or information on the market dynamics, it is not possible to determine the exact equilibrium price and quantity. The passage primarily highlights the concerns of the pork industry regarding potential animal welfare issues and the need for public support by purchasing locally produced pork to help the industry during this challenging time.