2016 livestock auction market throughput figures show that nearly £1.7bn worth of livestock was sold through the auction market system in England and Wales.
The overall number of store and breeding stock sold in livestock auction markets increased by more than 70,000 above 2015 figures.
Slaughter stock figures through auction markets also stood up well, despite a small fall in sales on the previous 12 months. In total, almost 11.5 million cattle, sheep, pigs and calves passed through the auction market system in 2016.
The figures will give reassurance to the industry, showing the value of the livestock auction market in England and Wales, 200 years after the first registered livestock auction took place in the UK.
Chris Dodds, executive secretary of the Livestock Auctioneers Association (LAA), said it is a sign of a 'profitable' industry.
“The overall figures released today reveal a dynamic and profitable industry, despite difficult trading conditions. The figures also demonstrate the critical role the livestock auction market system plays in supporting the sector.”
Multi-million pound industry
In the 200 years since the first registered auction in Hawick in 1817, the livestock sector has changed dramatically.
The industry has become a multi-million-pound industry, both politically and commercially.
“The LAA has been instrumental in introducing new training programmes, is working alongside industry organisations to deliver a data exchange initiative at point of sale, and continues to deliver support and advice as we face a period of uncertain trading,” says Mr Dodds
Mr Dodds concludes: “Livestock auction markets are pivotal to the supply chain, providing an open, transparent and competitive marketing forum for the red-meat sector. Today’s figures reinforce this message, and the LAA will continue to encourage innovation and traceability, help shape future policy and positively represent the sector.”
