November wheat futures closed at £143.75 last Friday, and ended this week at £141.60. A month ago it was £154-ish, so we appear to be in a slow downwards trend as the EU harvest pressures the markets.
The strange UK weather pattern we have experienced this year, with early heat then sunshine-and-showers to date means that in parts of the South, all the crops have ripened at the same time. Farmers are rushing about in-between showers trying to simultaneously harvest malting barley, rapeseed and milling wheat.
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Commodity markets are currently, all about the weather, the funds and currency. US soil conditions are a bit like the curate’s egg, there are some rotten bits as well as parts that are excellent.
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We are all suffering from the US weather market, it is dry in parts, raining in parts but generally the rain is missing the dry spots!
The combination of a bearish USDA report and a better weather forecast burst the price balloon.
With the right level of support, pullet rearing can be a very profitable business and so if you are interested in becoming a pullet supplier, then please do get in touch!
In part two of our series, Flock Focus, we re-join the Powell family in their first year of egg production, with the birds now in lay at their new free range set up in Mid Wales.
US spring wheat futures hit a three-year high as drought conditions continue in the northern US plains and Canada, with the poorest rainfall for 20 years.
The report covers 2016, which BPC said was a year of enormous progress for the British poultry meat industry
Attention to detail and having an in depth understanding of individual farm requirements are the vital components of rearing birds to a high standard.
Sterling has been fairly confused this week. The minutes of the previous week’s Bank of England’s MPC showed a 5:3 vote for holding interest rates where they are at 0.25%.
A move away from broiler production to pullet rearing is paying off for one Somerset farming family. Poultry World reports from Jonathan Hebditch’s farm at Martock. Read how this family are now fully into Pullet production. Original article by Tony McDougal, Freelance Journalist, Poultry World
The wheat market is focussed on the weather, politics and currency, and in the background the record short position of the funds is threatening to come to the fore.