Strong Pound denting sales prospects

By FW Staff

MORE European farmers are looking to purchase direct from collective sales in the UK, but Sterlings strength continues to hinder trade.

Paul Claydon of Cheffins Grain and Comins reports an increase in overseas farmers registering at the companys Sutton saleground which is traditionally dominated by dealers.

But despite the upsurge, further rises in Sterling have dented the potential for sales.

“Many reserves on tractors and machinery had been adjusted to account for the rise in the Pounds strength, but we may have to look again,” says Mr Claydon.

At this weeks sale, bids for unsold tractors in the 5000-10,000 bracket were typically 2-4% below reserve values.

“January is usually a slow month. Entries have been good, but even the Dutch say its hard to make a margin.”

See more