Agrifacts June 2020

Page 1

AgriFacts June 2020 Your monthly roundup of news, prices and other farming matters

Market Prices Month (ex farm) Midlands

Feed Wheat

Feed Barley

Oilseed Rape

Currency

June 2020

£156.92/t

£122.92/t

£313.77/t

£/€ = 1.13

July 2020

£158.31/t

£122.31/t

£314.46/t

€/£ = 0.89

August 2020

£160.85/t

£121.15/t

£314.92/t

$/£ = 0.80

Milk Data

Avg Monthly Price

UK Farmgate Milk Price

24.56ppl

Fuel/Straw/Silage

Price

Fertiliser

Price

Red Diesel

49.98p/litre

34% N AN (bags UK) £/tonne

£198.00

Big Sq baled wheat straw

£52.00/t

0:24:24 blend (bags) £/tonne

£244.00

Big bale hay

£53.00/t

20:10:10 blend (bags) £/tonne

£218.00

p/kg dwt

Finished Steers

Finished Lambs

Finished Pigs

323.17

424.78.10

161.10

Market Update This time last year few of us would have anticipated dealing with extreme soil saturation followed by dryness, interspersed with a pandemic of the humankind. Ultimately everyone involved in UK agriculture has had to become adaptable, and even more resilient while digging extra deep for that ‘can do, will do’ approach. The question now is what does the future hold and how will markets adapt? In the last few weeks we saw the publication of the UK Global Tariff schedule – a document we expected but how could it ultimately affect UK farmers and consumers? The answer to that is nobody knows until we see some trade deals. If we hit worst case – 1st Jan 2021 with no trade deals life could be very interesting. If the UK wheat crop comes in as currently anticipated – 10/11M/mt and there are no additional Tariff Rate Quotas for the UK then imports of wheat could dry up or be limited to high quality milling wheats – circa 15.11-15.91 dry matter protein as per the tariff. The problem here is that wouldn’t allow for German milling wheat imports and / or French – neither of which would make the high protein requirements for tariff free entry but would be liable for a £79/mt tax, just like feed wheat. As a reminder, in 2012/13 the UK imported over 1M/mt of German milling wheat, but more averagely imports circa 323k/mt. If lower grade milling wheat can’t be imported to supplement a potentially small and / or poor quality UK harvest what happens to UK milling wheat premiums and the price and quality of bread?


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.
Agrifacts June 2020 by fishergermanllp - Issuu