Positive outlook at UFU dinner

Despite the severe downturn in the fortunes of farmers, there was still plenty of positivity from the main speakers at the UFU annual dinner in Belfast City Hall last Friday night.

Outgoing Minister for Agriculture Michelle O’Neill was in a reflective mood, and while acknowledging the current difficulties, insisted that the industry still has a bright future. “I’m sure you didn’t agree with all my decisions, but I hope that you all accept that I had an open door and listened to all views,” she said.

Setting out her main achievements over the past five years she referred to CAP reform, a “long overdue” rural needs bill and the decentralisation of public sector jobs, with DARD leading the way by moving to Ballykelly.

In his speech, UFU president Ian Marshall talked about the need for change and how the union was well placed to lead the industry. He also had a go at Tesco for its fictitious farm labels, which he said were “disgusting and misleading”.

The final speaker was National Farmers’ Union (NFU) president Meurig Raymond who paid tribute to Marshall, with the UFU president due to step down at the end of this month. “I do hope the people of NI and the policymakers find a role for Ian in the years to come. It would be a shame to lose that knowledge and enthusiasm,” said Raymond.

Following the speeches, the Belfast Telegraph Cup for outstanding agricultural achievement was awarded to Clarke Black, the former chief executive of the UFU.

Herefords sell for 2,900gns

A bull and heifer both made the top price of 2,900gns at the elite Hereford breeders’ spring sale in Dungannon mart on Monday.

The bull, Glenside Lawson, was shown by Charlie and Raymond Pogue from Benburb. The 18-month-old bull is sired by Dreemore Titanic and from the dam Glenside Hayley.

The top-selling heifer was Brookfield 1 Megan, which was exhibited by Roy and Pat McClenaghan from Holywood. The July 2014-born heifer is a Solpoll 1 Ferrari daughter and from the dam Brookfield 1 Katy.

Overall, 10 bulls were sold at an average price of 2,350gns and five heifers averaged 2,320gns.

Other top prices included 2,600gns paid twice to Robin Irvine from Whitecross.

£29m profits at Hilton Food Group

Profits for 2015 were up by 11% to £29m at Hilton Food Group, the specialist meat-packing business headquartered in Cambridgeshire.

The company, which is listed on the London Stock Exchange, has significant operations in the UK, Ireland, Sweden, Denmark, the Netherlands, central Europe and Australia. It is run by NI man, Robert Watson, the former CEO of Foyle Food Group.

For 2015, Hilton reported sales close to £1.1bn, a marginal (-0.4%) decline compared with 2014. Currency headwinds negatively affected turnover by 7.4% with the pound sterling hardening over the year and almost two thirds of sales coming from markets outside the UK.

Despite the currency headwinds and weak consumer confidence in Europe, Hilton grew sales volumes by more than 5% last year to over 244,000 tonnes.

Sterling falls to 16-month low against euro

Sterling has further weakened against the euro this week with euro to sterling pushing above £0.80 for the first time since November 2014.

The upcoming referendum on UK membership of the EU is the dominant factor at present.

Analysts suggest that narrowing polls and a possible UK exit will mean sterling continues to remain weak in the short term.

Also, comments made by the governor of the Bank of England Mark Carney in January, when he ruled out a rise in interest rates, have reduced demand in sterling from foreign investors.