New dedicated service for livestock market prices soon launches

A new dedicated service for livestock market prices offering the most up-to-date price trends will launch in the new year.

The Livestock Auctioneers’ Association (LAA) has announced a change to the current system of providing livestock market sales prices to industry.

Launching from the 1 January 2024, the system will move away from AHDB's website to a new independent platform.

LAA says it will provide users with greater access to information and regularly updated prices, helping the industry to benchmark against the latest market trends.

Price information used by the industry to make informed decisions of when to buy and sell will move across to the new platform, LAA says, while users can expect more frequent price updates and refined market insights.

Farmers will also be able to stay informed of upcoming changes and market updates, enabling them to respond accordingly, while the platform will help inform industry research and analysis.

Mr Dodds said the new platform would enable the LAA to bring enhanced services to users, which would in turn help boost returns and maximise profits based on instant trade updates and market trends.

"Access to livestock market price trends not only helps businesses in making informed decisions, but can also help identify new opportunities as users gain a better understanding of consumer and buyer behaviours.

"We see this as the next stage of development of what has been a robust and highly valuable service, providing even greater access to information and trends that will determine future decision making.

“We believe the enhancement of this vital tool will also further support livestock sector growth, through performance monitoring and market analysis.”

Will Jackson, divisional director for engagement at AHDB added: “We are working with LAA on a transition to their new commercial system and expect it to provide the industry with efficient access to livestock market sales prices.

“AHDB will continue to process and publish other industry data currently available on our website to levy payers, as well as insights into the agricultural sector through our regular publications, analysis prices and outlooks.”