October 14, 2009
Weak pound seen beneficial for British livestock producers
British livestock producers are being urged by the National Farming Union to capitalise on the weaker pound.
Beef and lamb producers should make the most of sterling's lower value to boost export sales, delegates were told during NFU Council on October 13 at Woodland Grange, Warwickshire.
NFU livestock board chairman Alistair Mackintosh beef and lamb prices are dependent on the value of currency and the weaker pound should be good.
Sterling was expected to remain weak for the next 12-24 months, Mackintosh said.
It was hugely important that farmers and the meat industry used the next two years to firmly establish export market, Mackintosh added.
An export campaign by the English Beef and Lamb Executive was already boosting British sales to France, said Mackintosh.
He said true opportunities are already present with the weakness of the currency so that when the currency turns around, British producers have a foot in the door.
Cattle prices had remained firm since last April, Mr Mackintosh added.
Although there had been some fluctuation, lamb prices were 11-12p/kg higher than a year ago, he explained.
