Chairmans Report
Wednesday 13th August 2025
· Background
Farm Stock had a good year to the end of March 2024, thanks to all those who supply their livestock and to the dedication of all our staff.
Livestock prices and valuations have remained around historically high levels. Sheep numbers traded have reflected national numbers, whilst Farm Stock have grown their cattle trading.
Farm Stock’s Co-operative ethos continues to serve farmers in Scotland and Northern England, canvasing abattoirs to best place prime cattle and lambs. Facilitating the trade of store cattle and lambs is still a growing part of the business, has obvious bio-security advantages and benefits farmers on both sides of the trade.
· Accounts
You should all have a copy of the Accounts Reporting for the Financial year ending 31stMarch.
It is with satisfaction that we report a profit after tax of £111,964. This improved profit is due to the focus and hard work of Jonny and all his colleagues for which we are very grateful.
The Balance Sheet’s Capital and Reserves are stronger with Shareholder’s Funds amounting to£574,032 of which £488,532 are retained earnings – vital for our business given the nature of the company’s trading. It is worth noting that as livestock values increase, so do our cash requirements in order to run the business and pay farmers within our objective time frames.
· Strategy
During the year the Board endeavoured to develop the resilience of the team, provide the highest quality service to its farmer members and improve the profitability of the company.
The Co-op’s Mission remains:
““To improve the long-term profitability of our members by providing an independent, cost-effective livestock marketing service, providing customers with consistent quality and superior service”
The strategic plan to focus full time staff in viable proximity to the office to manage core function from which to further build the business continues. We encourage all our Fields team to have the discipline, flexibility and enthusiasm to manage and develop the livestock marketing services in their areas.
· Initiatives
Earlier in the summer we held a member’s night at Tempest Brewery (Tweed Bank) with an excellent butchery demonstration and tomorrow a similar event is being held at Dark Art Distillery in Kirkcudbright. Both have been well supported. If anyone has ambition and ideas for other such events, please do liaise with your local group or Farm Stock.
· Thanks
During the year we said goodbye to Vicky and Eilidh. My thanks to Vicky for all the development work she did for Farm Stock over the years and my thanks to both for all their work in their procurement roles.
We recently welcomed Mandy Grierson to the role of procurement officer.
My sincere thanks to fellow board members, to Jonny for his Executive Leadership and to the entire Farm Stock team both in the office and in the field for their work and support during my third year as Chairman. Finally my thanks to Andrew Tullie who is stepping down from the board and who has been of significant support as the Vice Chairman.
