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Tuesday, June 28, 2016

Modest Pork Expansion, but Brexit Casts Shadow

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Modest Pork Expansion, but Brexit Casts Shadow
Christ Hurt, Purdue Extension Agricultural Economist

If you’re wondering how the Brexit will impact U.S. agriculture, you might skip on over to the FarmDocDaily website. You’ll find an article there titled Modest Pork Expansion, but Brexit Casts Shadow.

It is written by Purdue Extension Agricultural Economist Chris Hurt. In it he says since the Brexit announcement, the dollar has increased by about 3.5 percent relative to the Euro and that the countries in the European Union have been the largest exporters of pork in the world for the last two years. He goes on say that farmers selling pork from the 19 countries in the EU that use the Euro now have an immediate price advantage over U.S. pork producers. too.

Hurt :09 …competitor a sizable and immediate price advantage.

Quote Summary - Brexit gives our biggest global pork competitor a sizable and immediate price advantage.

You may read more from Purdue’s Chris Hurt about the #Brexit and last Friday’s June Hogs and Pigs report on the FarmDocDaily website.