Rise in food prices curbs spending
CONSUMER confidence eased back this month after a Brexit-fuelled jump in food and fuel prices put the squeeze on household spending.
The closely watched GfK Consumer Confidence Index fell one point to minus six, falling further from a reading of minus five in January.
Joe Stanton, head of market dynamics at GfK, said the debt fuelled consumer spending boom in the wake of the EU referendum result now “appears to be softening”.
“Against a backdrop of rising food and fuel prices, sterling depreciation, nominal earnings growth and a burgeoning fear of rapid inflation, concern about our personal financial situation for 2017 has contributed to a drop in UK consumer confi239p WALLETS Marts sold 207 store heifers in Castle Douglas yesterday to a top of £1,100 per head and 254.4p per kg to average £797.70 and 215.3p (+6.3p on the fortnight), while 415 store bullocks peaked at £1,220 and 280.6p to level at £920.36 and 227.1p (+12.1p).
Messrs Craig Wilson Ltd sold 1,098 prime hoggs at Ayr yesterday to a top of £94 per head and 216.3p per kg to average 164.1p (+0.5p on the week).
There were also 568 cast sheep forward when heavy ewes sold to £109.50 for Texels and averaged £57.84, while light ewes peaked at £50 for Blackfaces and levelled at £26.62.
Harrison & Hetherington Ltd sold 48 prime heifers in St Boswells yesterday to a top of and an average of 217.6p (-0.3p), while 23 prime bullocks peaked at 243p and levelled at 208.3p (-7.4p). Three prime bulls sold to 217p and averaged 203p (+17p).
In the rough ring 36 beef cows sold to £165p and averaged 130p (-3.7p), while seven dairy cows peaked at 123p and averaged 112.5p (no comparison).
There were also 1,501 prime hoggs that sold to £94 and 216p to average 165.5p (+4p).
A nice show of 301 cast sheep saw heavy ewes sell to £90 for Texels and average £55, while light ewes peaked at £69 for Cheviots and levelled at £40.
The firm also sold 12 prime heifers in Carlisle yesterday to a top of 227.5p and an average of 194.2p (+1.2p), while 16 prime bullocks peaked at 204.5p and levelled at 190p (-1.6p). Twenty-nine prime, beef-bred bulls sold to 219.5p and averaged 192.5p (+9.4p), while 49 prime, dairy-bred bulls peaked at 188.5p and levelled at 162.1p (+7.9p).
In the rough ring 100 beef cows sold to 194.5p and averaged 135.9p (+2.9p), while 247 dairy cows peaked at 169.5p and levelled at 101.4p (-4.7p). Thirteen bulls sold to 147.5p and averaged 129.4p (-0.5p).
There were also 2,107 prime hoggs that sold to £108.80 and 274.8p to average 160.9p (-3.9p).
The 119 cast sheep forward saw heavy ewes sell to £100 for Texels and average £78.69, while light ewes peaked at £68.50 for Hill Cheviots and levelled at £42.07.
Lawrie & Symington Ltd sold 20 prime heifers in Lanark yesterday to a top of 246p and an average of 223.8p (+2.1p), while eight prime, beef-bred bullocks peaked at 238p and levelled at 207.8p (no change). Sixteen prime, B&W bullocks sold to 147.5p and averaged 135.3p (-2.2p).
In the rough ring 34 beef cows averaged 124p (no change) and 42 dairy cows levelled at 101p (+3p).
The firm also sold 1,884 prime hoggs to a top of £97 and 222.6p to average 165.6p (-1.7p).