The Irish Farmers Journal/Livestock and Meat Commission (LMC) spring conference, held in Armagh this Thursday morning, attracted a record attendance of delegates from the Northern Ireland farming and agri-food industry.

The theme of “Prospects for NI and UK agriculture” was very much against the background of the news from Brussels that the UK had secured an extension on its departure date from the EU until 31 October.

Michael Haverty and Graham Redman from the Anderson Centre are delivering the key insights on the current state of Northern Irish and wider UK agriculture.

They begin with a lookback at where UK farming was in 1973 at the time of joining the then EEC. Interestingly, the industry is now smaller in monetary terms and less profitable though land values are much higher.

Food chain

What is particularly significant is how the wider food chain has driven exports of added-value produce and cheap food.

The impact of sterling weakening in the aftermath of the Brexit vote in June 2016 is beginning to be felt in relation to industry production costs in the UK.

For farmers in NI in the beef and sheep sectors, the direct farm payment funded through the EU’s Common Agricultural Policy (CAP) is the source of profitability with farm sales essentially covering production costs and no more.