English Farming Update | Summer 2023
Welcome to this quarter’s Farming Update, which is produced by our Farming Research Group and reports on market and administrative issues that affect farmers’ business decisions and on which they may need to act.
Grain and oilseed prices have been dropping consistently since their peak in April/May 2022 due to a number of contributing factors including strong supplies, expectations of good harvests in the northern hemisphere and the extension of the black sea grain corridor for 60 days to keep grain flowing out of Ukraine. This has meant that the UK feed wheat prices have fallen sharply again, to well below £200/t.
UK Pig prices continue to gain much needed momentum, however figures for April 2023 stand at 765,400 head of clean pigs slaughtered, the lowest monthly figure since 2014. DEFRA has published the latest bovine TB figures; both England and Wales has seen reduction in the number of infected cattle slaughtered during 2022.
In farm business news, Defra has announced that there is now no financial cap on Countryside Stewardship Scheme (CSS) capital only applications. The Farming Equipment and Technology Fund (FETF) for animal health and welfare is still open with a deadline of 15th June 2023. At the time of writing we await more details of the new SFI standards for arable.
The Prime Minister and the Secretary of State for Environment, Food and Rural Affairs, Rishi Sunak and Thérèse Coffey have written to all farmers stating that economic growth is a priority for this Government and the farming sector is key to this. At a recent ‘Farm to Fork food summit at 10 Downing Street they set out steps to back British Farmers – to strengthen food security, boost trade and export opportunities, and support the long-term resilience of the sector.
Read the full Farming Update for more detail on:
- Global grain markets
- UK arable markets overview,
- UK livestock markets
- Fertiliser and fuel
- Policy and regulation Please contact our team for further information on anything you read here
Please contact our team for further information on anything you read here.
