British pig industry thanks Brexit voters for improvement of prices

Continuing weakness of sterling against the euro has seen huge boosts to domestic prices
Continuing weakness of sterling against the euro has seen huge boosts to domestic prices

The National Pig Association has thanked the public who voted Brexit for the positive turn the UK pig industry has took since the referendum.

In an update on their website, the organisation explained that "Happy days are here again... thank you Brexit voters!"

Due to the continuing weakness of sterling against the euro, the pig industry has seen a huge boost to domestic prices, providing a sharp turn towards an upward-moving market.

All indicators now point to continued improvement in price, helping producers recover from first-half losses.

The European Union price has been accelerating steadily since spring and will rise even higher as continental supplies tighten during fourth quarter.

Meanwhile, China's appetite for imported pork remains strong, giving the whole global pigmeat market a bullish feel that looks likely to last for some time yet.

In Britain modest increases in production are expected — apart from first-quarter 2017 — but with exports booming and imported pork more expensive since the Brexit vote, this will pose no impediment to steadily rising returns for producers.

In its most recent forecast AHDB Pork sees falling imports and increased exports reducing supplies of British pork available for consumption to 2014 levels.

Amid the good times, the National Pig Association does however admit the sector needs to work harder to help consumers "recapture their taste" for pork and pork products.