UK's pig farm business incomes to witness further growth in 2017-2018
AHDB analyst Bethan Wilkins says the increase is based on an increase in higher finished pig prices, which were on average 17% higher than in the previous year. In addition, weaner, store and cull sow prices also reported on average higher prices.
Still, the AHDB analyst says that the rise in incomes is expected to be reduced by higher feed prices. "Feed wheat and barley were more expensive across the year, although the impact of this will have been dampened somewhat by cheaper soya," Wilkins explained.
Furthermore, Wilkins added that due to the fact that a significant proportion of enterprises in the Farm Business Survey sample are contract rearers, high pig prices will probably not be fully reflected in the income level of these farms."As such, this is assumed to have dampened the overall growth in Farm Business Income for specialist pig farms during in 2017/18."
The AHDB analyst expects the fall in value of the pound, which boosted commodity prices in a number of sectors, to sustain an increase in incomes for most types of farms.
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