Assurance price benefit update

UK - New figures from EBLEX show that producers lost out on more than £3 million last year by not being farm assured for their sheep and cattle.
calendar icon 24 October 2006
clock icon 1 minute read

Using price data collected from English auction markets in the period from January to December 2005, the EBLEX report shows more than 78 per cent of prime cattle and 67 per cent of sheep were farm assured.
With the report showing a high level of demand for farm assured cattle and an increasing demand for assured sheep, the main points highlighted are:

�� assured cattle showed an average price differential of 7.11p/kg
�� steers showed the highest differential at an average 8.51p/kg
�� heifers showed an average 7.74p/kg advantage
�� assurance added an average 3.88p/kg to the value of young bulls
�� new season lamb generated an average of an extra 1.86p/kg
�� old season lamb scooped an added 0.71p/kg and
�� ewes earned an average £1.27 a head more.

The report also shows there is a cost benefit of being farm assured to all farm businesses which sell, on average, two or more beef animals a year for slaughter or 112 new season lambs. This is based on a farm assurance cost of £85.

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