The US pig herd is growing rapidly, with last month’s pig crop totalling 71m head – a 4% rise on the March 2016 crop. The rise is partially due to improved sow productivity, where pigs weaned per sow has jumped to 10.43 from 10.30. The growth is expected to put pressure on EU pork exports.

Australia is expected to process 2.7m fewer sheep this year. Mutton slaughters are forecast to be the second-lowest on record, while lamb production is set to fall by 6%. However, as a result of the tight supplies, sheep and lamb market prices are expected to reach record highs.

The March FAO dairy price index, a measure of the monthly change in international prices, is down 2.3% from February. This is the first index decline since April 2016. Ample milk supplies in the northern hemisphere and a higher milk production anticipated in Oceania have contributed largely to the drop.

Volumes of sheepmeat imported to the UK in February are down 36% compared with the same month last year. Higher sheepmeat production and a weak pound in the UK have contributed to the drop. Shipments from New Zealand are down 43%, while imports from Ireland are down 4%.