British pigs are now the most expensive in the EU, according to the latest official figures published in Brussels. Farmers protesting against retailersí and processors' imports claim the UK market premium is exaggerated by over-valuation of sterling, but the currency influence is more complex than they admit. Although the euro has been soft against sterling, it has been even weaker against the US dollar. Continental producers watching the world pigmeat trade might interpret this as promising less competitive pressure from dollar-denominated supplies in crucial Asian export markets. If so, the temptation would be to ease up on breeding herd contraction. And that in turn could mean more resilient EU clean pig slaughterings than UK farmers expect. The implication is the price in this country is only partly an exchange rate illusion and is too high relative to prospective supply. {{MEAT }}