It is an important time of year for suckler farmers as attention starts to shift towards getting ready for weaning and, on some farms, preparing stock for sale.

Mart reports are positive with the early sales of autumn-born weanlings starting strongly.

Irrespective of how animals are traded, security of payment is key. We have always advocated the mart system as the most secure and transparent method of selling stock – with payment guaranteed under the Property Services Act (PSA).

However, farmers should be aware that PSA regulations do not apply where individual marts are simply providing a weigh-and-pay service and therefore security of payment is not guaranteed.

Where farmers are selling directly off the land, the IFA is recommending that funds are transferred electronically into accounts before stock is moved off the farm.