Beef, lamb, milk, cereals and pork have all seen significant rises over the last 12 months. This is largely put down to the falling sterling making imports less competitive.

A 400kg R3 steer is worth £178 more a head year-on-year.

Farmers are getting almost £100 for lambs, up over £15 a head compared to last year, bringing hope for the main crop in the back end.

Spot feed barley prices are running at around £128/tonne, up £33/t on last year.

Meanwhile, pig prices are at £1.60/kg up 40p/kg, a rise of one-third in 12 months.

Average milk prices for non-aligned farmers are also up by around 7p/l compared with this time last year.

NFUS Livestock chair Charlie Adam said: “Prices for cattle and lambs are up, although this is in the context of total cattle numbers down by 1.4%.

“For beef and sheep producers, higher costs will be having an effect in restricting the margin that farmers and crofters can extract from the market, particularly livestock farmers, who are finding themselves facing higher feed prices.”