A leading pig farmer hopes 2024 could finally bring confidence back to the crisis-hit sector, after "tentative" signs of recovery in the last 12 months.

Pigs are a vital part of East Anglia's agricultural economy, with an estimated 20pc of the national herd kept in Norfolk and Suffolk.

But the industry has endured a prolonged economic crisis in recent years, amid falling pig prices and record high costs - particularly for fuel and animal feed, whose value soared after the war in Ukraine drove up grain prices.

Those factors were compounded by the earlier pressures of a huge backlog of animals created by a post-Brexit shortage of workers in meat processing plants.

But struggling pig farms finally returned to profit in the second quarter of 2023 after 10 successive quarters of losses.

North Norfolk farmer Rob Mutimer, who is nearing the end of his three-year term as chairman of the National Pig Association (NPA), said there were optimistic signs for the future.

"This year has felt rather like the hangover from the two previous years of carnage," he said. 

“We are at least seeing positive margins, which is a blessing, but confidence among the majority of producers is still very low, with many having to restructure their business and plug financial holes from the previous years.

“Thankfully, the herd numbers are starting to stabilise, and confidence will, hopefully, start to improve throughout 2024."

Defra's latest figures show the UK pig population fell by 10pc in the year to June 2023, reaching its lowest recorded level since 2012.

But despite the steep decline in fattening pigs, AHDB analysts said the "minimal change" in the breeding herd and an increase in the number of pregnant gilts and young females intended for first-time breeding shows signs of "improved industry sentiment, likely in part due to improved farm margins".

Mr Mutimer also said he hopes to see continued progress on the government's supply chain review, following Defra's pledge to regulate contracts between pork producers and buyers.

"This is the critical time where we make sure Defra get the balance correct, which will create confidence for producers but not overly burden the supply chain making trade overly difficult," he said. 

“We all want workable contracts, and the balance of the review will be essential to its success."