Scotch Premier warns of losses as auction prices rise

UK - Rising auction market prices for beef cattle unmatched by wholesale and retail rises could mean the first loss in more than 15 years for one of Scotland's biggest meat companies.
calendar icon 19 December 2006
clock icon 1 minute read

Making that unusually pessimistic forecast yesterday, Brian Pack, chief executive of ANM Group since 1990, told journalists that the Scotch Premier Meat part of the group was under serious pressure.

A big increase in auction prices for beef cattle this year had been good news for farmers, which was welcome, and also for auction marts on commission.

But Scotch Premier had paid £250,000 more last month for the same number of cattle as in November 2005, with no chance of passing that cost on because of consumer resistance.

Source: Scotsman

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