Growing demand for the Limousin breed with increased sale averages and clearance rates coupled with some major progress in breed improvement initiatives are the main highlights of the British Limousin Cattle Society's members report issued prior to next month's AGM.

Breed chairman, John Phillips, Carmarthenshire, said sales of pedigree Limousin cattle had grossed more than £5.6m over the past year, with the breed attracting a 94% approval rate from Bull Buyers’ Survey.

He added that more than 19,000 pedigree calves were registered by the society members, with the breed itself remaining the market leader with a 29% share.

In a UK beef industry first, the society has also introduced Genomic Estimated Breeding Values for a range of carcase traits and GEBVs for female fertility and calf survival traits.

Mr Phillips comments: “Over the years the society has placed emphasis on meeting the needs of the commercial beef producer, and providing the Limousin cattle and genetics that meet and surpass their level of expectation in consistency, performance and profitability, and that are adaptable to meet current and changing markets.

"This objective will continue to be one that the society will readily invest in on behalf of its members and work hard towards for the future.”

Total income for the year ended December 31, 2016 was £1,049,180. Total expenditure amounted to £950,081, with income from birth registration fees totalling £516,775 and sale commission for the year at £57,342,

The total net movement in funds on the year was £294,167, which included a net unrealised gain on the investment portfolio of approximately £190,000.

A further £66,670 was returned to members in the year in the form of pedigree refunds through the society’s ongoing Breed Improvement incentive. This long-term initiative has now seen £831,500 returned to breeders.

In what have been volatile and tough markets the society’s investment portfolio is reported to have continued to perform solidly and remained in line with benchmark figures. In the BLCS report and accounts the level of funds carried forward in the year is shown £2,998,783 which is up by £294,167 on 2015.