The sheep industry has not yet experienced any benefit from the devaluation of the pound, according to the National Sheep Association’s Scottish chairman, John Fyall.

“We’re being told that the price of lamb is up due to currency, but actually it is up everywhere; even in Ireland and France,” Fyall told Farmers Journal Scotland. “We’re not seeing any benefit. Imports can be balanced by currency, but the pound will rally again. My fear is that a report will come out at some stage saying that sheep is profitable again and then retailers will pin us down.”