Farm Finance

NFU urges farmers to sign up for fodder bank scheme.

26th MayPosted by Louise Taylor

THE NFU is urging farmers who have been affected by the low levels of rain this year to take advantage of its fodder bank scheme.

The free online service, now in its fourth year, is designed to help farmers with shortages and surpluses of cattle feed and bedding.

With concerns over the amount of rainfall in 2011, which included the driest March in 50 years, the NFU hopes members will take full advantage of the service to appeal for stocks...

Morrisons native beef scheme will pay premium.

26th MayPosted by Louise Taylor

Morrisons have launched a major retail initative and are offering premiums of up to 20p/kg for native breed steers and heifers.

Farm operations manager for Morrisons, Andrew Loftus, says the scheme will need an extra 16,000 cattle a year.

The scheme spotlights Beef Shorthorns and their crosses but all British native-sired animals are eligible. The Shorthorns qualify for the 20p/kg premium (maximum £75/head) while others still receive an additional 10p/kg.

Morrisons...

Lamb price should remain buoyant for next three years.

23rd MayPosted by Louise Taylor

A report in the Farmers Weekly says that lamb prices will remain buoyant for the next three years but the industry must work hard to convince consumers that the price is worth paying. 

John Dracup, livestock director for the red meat unit at Vion, believes the lamb price could climb yet higher in the next 12 months if currency markets remain stable.  But he warned producers at the NSA Welsh Sheep 2011 that higher prices could result in lamb being perceived as a special occasion...

Industry calls for improvements to 2011 SPS payments.

18th MayPosted by Louise Taylor

Defra minister, Jim Paice, and the Rural Payments Agency have been urged by a farming industry delegation to set more challenging targets for the payment of 2011 Single Payment Scheme claims.

Representatives from three key industry bodies in England held talks with Mr Paice and members of the RPA Oversight Board, of which the minister is chair.

The bodies - the Country Land and Business Association, the Tenant Farmers Association and the NFU - pressed the board to focus on...

Robert Wiseman sees fall in profits.

17th MayPosted by Louise Taylor

 

Robert Wiseman Dairies have reported a significant drop in profits following rising costs and intense competition for market share.

Adjusted pre-tax profit for the year to 2 April was down 24% to £35.8m, on revenues that grew 3.5% to £917.5m.

The firm said that while it had either grown or retained business with all key supermarket customers, heightened competition to supply convenience and wholesale sectors had squeezed margins.

In addition, there...

AMC advise farmers to act quickly for discounted farm lending rates.

17th MayPosted by Louise Taylor

ACT QUICKLY FOR DISCOUNTED FARM LENDING RATES SAYS AMC

Farmers considering investment in their farm businesses are being urged to tap into discounted loan rates available from the Agricultural Mortgage Corporation (AMC) but they must act quickly.

 

...

NFU warn of collapse of dairy industry.

21st AprilPosted by Louise Taylor

Mansel Raymone, NFU dairy board chairman, has warned of a potential 'massive collapse' of the dairy supply base, if milk prices do not improve.  He said a combination of 'scandalously'low prices, spiralling costs and forthcoming Nitrate Vulnerable Zone (NVZ) regulations were forcing many farmers to consider ahead of the next winter of indoor feeding.

UK milk production is currently at its highest level since 2006, due mainly to helpful weather conditions, but production is now under...

Beef prices hit all time high.

18th AprilPosted by Louise Taylor

The Farmer's Weekly report that beef prices have broken through the 300p/kg barrier for the first time ever.

The deadweight steer price for Great Britain stood at 302.5p/kg, 26p or 9% ahead of the same time last year.

 Nick Allen, sector Director for EBLEX, said “For producers, it is encouraging to see the beef price break through the 300p/kg barrier. It’s an inevitable consequence of shortened supply and rising costs of production. It will bring...

Tax case in Scotland has Inheritance Tax implications.

12th AprilPosted by Louise Taylor

JCP Solicitors report that a tax case recently decided in Scotland has implications for Inheritance Tax (IHT) for businesses where a trade that qualifies for Business Property Relief (BPR) is carried alongside one which does not.

BPR opertes to reduce the value of a business asset to 50% of its market value or nil for IHT purposes and is therefore a very valuable relief when passing on a family business.

In the case in point, a landed estate operated a farming business, which...

Prince Charles donates £40k to farmers.

8th AprilPosted by Louise Taylor

Prince Charles has set up a rural fund which will donate £40,000 to charities which are helping farmers through the financial crisis caused by feed shortages and late single farm payments.

The money is being drawn from a special emergency funding stream set aside by The Prince's Countryside Fund and will be donated to ARC Addington Trust and the Farm Crisis Network.  ARC Addington supplies grants to normally viable farm businesses that are in financial hardship due to unexpected...

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