Scottish Farming Update: Autumn 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.
It has been a slow and prolonged harvest but fortunately weather conditions have improved towards the end. Yields are generally good. There has been significant variation in reports in relation to drying requirements across the UK, ranging from 10% to 100% of crops cut so far, and English farmers have definitely dried more than they are used to.
There is positive news in the pig sector as finished pig prices are now reported to be above the cost of production, which is the first positive net margin in ten consecutive quarters. In the dairy sector more detail has been provided by Defra about new regulations on milk contracts, which are due to come into force later this year. These regulations are intended to ensure clearer pricing terms for farmers and allow them to challenge prices if the correct process has not been followed to generate the original price. In farm business news, three of the main suppliers of fertiliser in the UK, CF, Yara and Origin Enterprises, made a combined net profit of $5.45bn in 2022, which was up from £920m in 2020.
Read the full Scottish Farming Update for more detail and commentary on:
- Global grain markets
- A comprehensive overview of UK arable markets
- A comprehensive overview of UK livestock markets
- Fertiliser and fuel costs
- Policy and regulation updates in Scotland
- Farm business news