According to Clydesdale Bank chief economist, Tom Vosa, the prospect for euro/Sterling exchange rates look relatively settled going forward into 2014, although a little below current rates.
"While currency markets remain volatile, possibly pushing euro values down towards 82p before the end of this year, the currency's value against Sterling in 2014 is currently forecast to be around 83p," said Mt Vosa.
For farmers depending on the official Euro/Sterling exchange calculation made for the Single Farm Payment (SFP) on Monday, the use of a single day rate to set the value of such an important payment inevitably exposes their businesses to a degree of income risk. During the past 12 months, for example, the euro has ranged in Sterling exchange value from 79.5p to 87.47p, injecting close to a 10% gain/lose factor into the annual payment.
Market round-up
The Cumberland and Dumfriesshire Farmers Mart had 24 prime cattle forward at its weekly sale in Dumfries when bullocks sold to 248.5p per kg and averaged 230.8p, while heifers peaked at 231.5p and levelled at 218.7p.
There were 83 OTM cattle presented in the rough ring when beef cows averaged 126.5p and a dairy cow sold for 93.8p.
The firm also sold 1056 prime lambs to a top of £81 per head and 198p per kg to average 168.6p.
The 409 cast sheep forward saw heavy ewes sell to £87.50 for Texels and average £52.21, while light ewes peaked at £42.50 for Blackfaces and levelled at £33.95.
Messrs Craig Wilson Ltd sold 1201 prime lambs in Newton Stewart on Wednesday to a top of £80.80 and 192.3p to average 165.2p.
There were also 364 cast sheep forward with ewes selling to £88 for Texels and £44 for Blackfaces.
United Auctions sold 571 store heifers at Stirling on Wednesday, to a top of 246.3p and an average of 226p (no change on the week), while 808 store bullocks peaked at 296.2p and levelled at 237.9p (also no change). Seventy store B&W bullocks sold to 181.6p and averaged 161.3p (-4.9p).
In the rough ring 227 cast cows averaged 124.2p.
The firm also sold 6515 store lambs. Top prices and averages: Suffolks to £70 and averaged £59.80 (-£1.32 on the week); Texels £66 and £59.89 (+£2.56); Mules £61.50 and £53.38 (-£1.32); Blackfaces £52.50 and £41.83 (-92p); CheviotX £61 and £57.14; Accredited BF ewe lambs £92 and £58.85 (-£2.22 on the year); Non-accredited BF ewe lambs £82 and £47.73 (+£2.75).
Lawrie and Symington had 5459 breeding sheep and store lambs forward in Lanark on Wednesday.
Stobohope Blackface dispersal sold to £130 for Gimmers and averaged £105.83 for 786 ewes and gimmers, while 202 ewe lambs levelled at £72.91.
Greens Farm, Newbigging reduction sold to £100 for 1-crop and averaged £74.01 for 543 Lleyn ewes and gimmers. The second sale of BF ewe lambs sold to £90 and averaged £55.55.
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