With the festive season fast approaching, I thought I'd get my crystal ball out and predict some prices for six month's hence.
It's never an easy task. Just one look at the price graphs at the back of Farmers Weekly is enough to demonstrate the rollercoaster trip that agricultural markets have been on over the past couple of years.
Furthermore, as one leading banker recently told me, "if there's one thing you can guarantee about forecasts, it's that they'll be wrong".
So, spurred on by this vote of confidence, I can now reveal that, at the end of June 2010, the following values will prevail:
Feed wheat (FW ex-farm price) £107/t
Nitram (GrowHow price) £205/t
Finished lambs (R3L carcases) 440p/kg
Red diesel (FW IPM price) 49p/litre
Bank of England base rate 0.75%
Euro:Sterling exchange rate 86p
But what are your predictions? Why not jot them down in the comment section below, or e-mail them to me at philip.clarke@rbi.co.uk, and I'll come up with a small prize for the closest prediction in six months time. What have you got to lose, apart from your pride and dignity?
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Thanks for providing your predictions as a template, and here are my (completely wrong) predictions:
Feed wheat (FW ex-farm price) £115/t
Nitram (GrowHow price) £225/t
Finished lambs (R3L carcases) 415p/kg
Red diesel (FW IPM price) 52.5p/litre
Bank of England base rate 1%
Euro:Sterling exchange rate 84p
Thanks for some great blogs/articles in 2009 and I hope to see many more in 2010! :-)
No worries - I reckon you are optimistic on feed wheat, especially if your prediction for sterling is right. But I fear you may be closer than me on red diesel the way things are going up at the pumps!
Here are mine:
Feed wheat (FW ex-farm price) £140/t
Nitram (GrowHow price) £200/t
Finished lambs (R3L carcases) 460p/kg
Red diesel (FW IPM price) 55p/litre
Bank of England base rate 0.75%
Euro:Sterling exchange rate 80p