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?