Bad weather brings bad news for livestock producer

A major livestock producer operating in Northumberland has reported a loss due to the bad weather last year.

Despite an improvement in market conditions in the second half of the year, John Swan Ltd, who run a large livestock centre in Wooler, posted a pre-tax loss of £0.36m for the year ending 30th April.

The company’s auctioneering business was responsible for the loss, unable to make up the ground lost in the first half of the year. It made a pre-tax profit last year of £0.24m.

Revenues for the year also fell, to £1.76m from £2.06m last year.

Chairman Alastair J Ritchie commented: “The weather was detrimental to all aspects of farming during the year and in turn, this affected the ancillary businesses.

“Sheep were slow in coming forward and prices were down, which led to reduced commission. Cattle prices remained strong but cattle were fewer in number.”

John Swan Ltd conducts sales of pedigree and commercial livestock and also provides a private sales facility.

The company bought Wooller Mart in 2002, where it now rears the livestock.

Mr Ritchie continued: “With livestock numbers tight, the auction markets are, without doubt, the place to sell.

“Competition between buyers ensures the best prices and with the company’s control of credit, producers are better guaranteed payment for their stock, which with enhanced values, is very important.”

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