Pig World
  • News
      • Animal Health
      • Breeding
      • Business
      • Environment
      • EU
      • Food Safety
      • Housing
      • Marketing
      • NPA
      • National Pig Awards
      • New Products
      • Nutrition
      • People
      • Pig Fair
      • Politics
      • Training & Education
      • Welfare
  • Features
    • Animal Health
    • Breeding
    • Environment
    • Farm Visits
    • Herd Recording
    • Housing
    • Marketing
    • Nutrition
    • Products
    • Training
  • Comment
    • AHDB Pork
    • Chris Fogden
    • Dennis Bridgeford
    • Peter Crichton
    • Red Robin
    • Veterinary View
    • Zoe Davies, NPA
  • Numbers
  • Pig Prices
  • Magazines
    • July 2025
    • June 2025
    • 2025 Innovation supplement
    • May 2025
    • April 2025
    • March 2025
    • 2025 Buildings supplement
    • February 2025
    • 2025 Nutrition Supplement
    • January 2025
    • December 2024
    • November 2024
    • 2025 National Pig Awards supplement
    • October 2024
    • September 2024
    • August 2024
    • 2024 Pig Health supplement
    • July 2024
    • June 2024
    • 2024 Innovation supplement
    • 2024 Pig & Poultry Fair Guide
    • May 2024
    • April 2024
    • 2024 Buildings Supplement
    • March 2024
    • 2024 Pig Nutrition supplement
    • February 2024
    • January 2024
    • December 2023
    • November 2023
    • 2023 National Pig Awards supplement
    • October 2023
    • September 2023
    • Health Supplement
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Classified
  • Events
    • Pigs Tomorrow
    • National Pig Awards
Podcast
Pig WorldPig World
  • News
      • Animal Health
      • Breeding
      • Business
      • Environment
      • EU
      • Food Safety
      • Housing
      • Marketing
      • NPA
      • National Pig Awards
      • New Products
      • Nutrition
      • People
      • Pig Fair
      • Politics
      • Training & Education
      • Welfare
  • Features
    • Animal Health
    • Breeding
    • Environment
    • Farm Visits
    • Herd Recording
    • Housing
    • Marketing
    • Nutrition
    • Products
    • Training
  • Comment
    • AHDB Pork
    • Chris Fogden
    • Dennis Bridgeford
    • Peter Crichton
    • Red Robin
    • Veterinary View
    • Zoe Davies, NPA
  • Numbers
  • Pig Prices
  • Magazines
    1. July 2025
    2. June 2025
    3. 2025 Innovation supplement
    4. May 2025
    5. April 2025
    6. March 2025
    7. 2025 Buildings supplement
    8. February 2025
    9. 2025 Nutrition Supplement
    10. January 2025
    11. December 2024
    12. November 2024
    13. 2025 National Pig Awards supplement
    14. October 2024
    15. September 2024
    16. August 2024
    17. 2024 Pig Health supplement
    18. July 2024
    19. June 2024
    20. 2024 Innovation supplement
    21. 2024 Pig & Poultry Fair Guide
    22. May 2024
    23. April 2024
    24. 2024 Buildings Supplement
    25. March 2024
    26. 2024 Pig Nutrition supplement
    27. February 2024
    28. January 2024
    29. December 2023
    30. November 2023
    31. 2023 National Pig Awards supplement
    32. October 2023
    33. September 2023
    34. Health Supplement
    Featured

    July 2025 issue of Pig World now available

    July 6, 2025
    Recent

    July 2025 issue of Pig World now available

    July 6, 2025

    June 2025 issue of Pig World now available

    June 4, 2025

    2025 Innovation supplement now available

    June 4, 2025
  • Suppliers
  • Jobs
    • Browse Jobs
    • Post a Job
    • Manage Jobs
  • Classified
  • Events
    • Pigs Tomorrow
    • National Pig Awards
LinkedIn X (Twitter)
Pig World
Business

Short term pros and cons of “Brexit” decision

PW ReportersBy PW ReportersJuly 4, 20163 Mins Read
LinkedIn Twitter Facebook Email

The differing short term impacts of the “Brexit” result have been analysed by AHDB Pork, highlighting potential exchange rate benefits for both pigmeat exports and imports while noting that many inputs, such as fuel, feed and fertiliser, may become more expensive in sterling terms.

“Once the result of the referendum was clear, one of the first effects was seen in the UK currency,” said AHDB Pork, adding that the value of the pound fell sharply against other currencies during the day after the result, with further falls being seen at the beginning of last week.

“As of June 29, £1 bought €1.21, down 10 cents since immediately before the referendum result and the lowest level in over two years. Against the US dollar, the pound hit its lowest level since 1985, at $1.32.”

This was bound to have an immediate impact on the pigmeat sector, given that the UK pig price is closely related to the exchange rate between the pound and the euro, due to the fact that approximately 60% of pigmeat consumed in the UK is imported, mostly from the Eurozone.

The decline in the value of the pound will therefore have made imported pigmeat from the EU less competitive on the UK market, pointed out AHDB Pork, adding that according to the exchange rate as it stood on June 23, the EU average reference price was equivalent to around 116p/kg. A week later, the currency rate change meant the same reference price was equal to about 125p/kg.

“The UK’s trade relationship with the EU will remain as it was before the referendum until the terms of the UK’s exit from the EU are agreed over the next two years,” said AHDB Pork. “As a result, free trade with our largest market can be expected (to continue) in the short term.”

That seems to promise all-round UK pigmeat trading gains. A weaker currency, for example, may limit imports by making UK products more competitive while the same weaker pound could make UK pigmeat more price competitive on export markets.

“However,” added AHDB Pork, “it is not only meat imports that will be impacted in the short term as many inputs, such as fuel, feed and fertiliser, may also be more expensive in sterling terms.”

AHDB Pork also urged producers to note that currency is only one factor within a range of market drivers which will affect supply and demand in the future, influencing market movements for both outputs and inputs.

“It will also be important to track the impact of economic and political uncertainty on consumer behaviour and demand,” it added, promising that AHDB will continue to deliver more information and analysis on the “evolving situation” from the perspective of how the pork industry may be affected in the coming months and years.

Share. LinkedIn Facebook Twitter Email
Previous ArticleAsda makes new home-produced pork pledge to NFU Scotland
Next Article National Pig Awards judging panel revealed
PW Reporters

Read Similar Stories

June UK pig slaughterings up 2.7% year on year, as Q2 production remains ahead of last year

July 15, 2025

ABN kicks off pioneering long-term mill project

July 11, 2025

Sofina Foods acquires NI food manufacturer Finnebrogue

June 30, 2025
Latest News

New government food strategy a welcome step, but must be backed by pragmatic policy – NFU

July 18, 2025

AHDB to explore retail trends and consumer perceptions of farming at October conference

July 17, 2025

GB pig prices for week ending July 12, 2025 – SPP continues to inch up

July 16, 2025
Sponsored Content

THE GATEKEEPER OF RESPIRATORY HEALTH – MYCOPLASMA HYOPNEUMONIAE (M.HYO)

April 30, 2024

Tackle the root cause of PWD with free diagnostic tests

March 1, 2024
Current Pig Industry jobs
  • Pig Stockperson – Ref 1763 Scotland

    • Scotland
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Senior Piggery Stockpersons – Ref 1762 Western Australia

    • Western Australia
    • Roadhogs Recruitment Ltd.
    • Full Time
  • Assistant Pig Farm Manager – Ref 1761 Leicestershire

    • Leicestershire
    • Roadhogs Recruitment Ltd.
    • Full Time
GETTING IN TOUCH
  • Advertise
  • Contact Us
  • Meet The Editors
  • About Us
  • Email Newsletters
  • Subscribe
  • Reuse permissions
OUR SOCIAL CHANNELS
  • Twitter
  • LinkedIn
PARTNER EVENTS
RELATED SITES
  • Farmers Weekly
  • Agronomist & Arable Farmer
  • Farm Contractor
  • National Pig Awards
  • Pigs Tomorrow
  • Poultry News
  • Weekly Tribune
  • Privacy Policy
  • Cookies Policy
  • Terms and Conditions
© 2024 MA Agriculture Ltd, a Mark Allen Group company

Type above and press Enter to search. Press Esc to cancel.