Welcome to this quarter’s Scottish 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.
At the time of writing in mid-February grain and oil seed markets have been gradually improving for three weeks due to several factors including the weakening sterling and the uncertainty surrounding the war in Ukraine. Although prices remain well below the market highs of almost twelve months ago, UK ex-farm prices do appear to be feeling some positive effects of a reinvigorated world market. Further good news came from the fertiliser markets with nitrogen prices continuing to fall.
UK beef production is expected to grow by 0.6% in 2023, yet recent analysis has indicated that the Scottish beef herd size has decreased in the past year (2022). The outlook indicates consumer spending is likely to be lower due to the cost-of-living crisis. Milk prices have reduced for the first time in almost 2 years.
In farm business news, the publishing of the Scottish agricultural reform route map allows land managers to plan using the timetable of changes listed between now and 2025.
Read the full Scottish Farming Update for more detail on:
- Global grain markets
- UK arable markets overview,
- UK livestock markets
- Fertiliser and fuel
- Policy and regulation updates in Scotland
- Dates for your diary