Prices slump as foot-and-mouth bites
By James Garner
THOUSANDS of pounds have been wiped off the value of livestock as Britains markets reacted violently to the outbreak of foot-and-mouth disease.
Prices fell by up to 25% as the first markets ended after a ban on exports of meat, livestock and dairy products came into force on Thursday (25 February).
Lamb prices were worst hit, mainly because export markets account for much of the trade at this time of year.
Hogget prices fell 22% on the week at Thainstone Market, Inverurie in Aberdeenshire. The 25p/kg fall from last weeks average of 113.5p/kg is a drop of about 10 a lamb.
Philip Reid, the markets chief sheep auctioneer, said that farmers seemed to be accepting that prices were crashing across the country.
Finished lambs and cattle were being held back though, and a major backlog could be created as farmers react to the crisis, said Mr Reid.
“Its very worrying, as we are just starting our main spring marketing season.”
Mr Reid added: “There are some guys with several thousand lambs ready for sale, and if they hold on to these lambs numbers will back-up considerably.”
The number of sheep going under the hammer slumped and just three-quarters of the 6000 lambs expected were sold at Inverurie.
At St Asaph Market, Denbighshire in Wales, lamb values were 16% down on last week at just 98.5p/kg, compared with 118p/kg last week.
The local abattoir, which relies mainly on the export trade, sent home 60 workers and is expected to lose up to 10,000 for every week it remains closed.
Peter Kingwill, chairman of the Livestock Auctioneers Association, said that cattle finishers were also acting cautiously.
He told FARMERS WEEKLY: “There will be a knock-on effect on cattle prices, but they shouldnt be hit as hard.”
Haig Murray of Longtown Market near Carlisle, said prices fell by 20p/kg as the market went into turmoil.
“Most of our exporters were not here today. There was a lot of buyers missing as no one knows what they are doing.”
Stock numbers were well down too, with only 4000 lambs up for sale, about half the markets normal number.
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