Soya prices have rise around £100/t since August which is increasing the cost pressure on many Scottish livestock farms.

Prices in the back end were around £460/t but have since jumped to £540/t. This has had a knock on effect for other protein prices which means the price of high protein concentrates looks to be rising.

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This will have a marked effect on farmers yet to buy their ewe rolls in the run up to lambing which typically have a protein level of 18 to 20%. The situation is not being helped by the continued weak sterling as most protein grains are traded in US dollars.

Looking ahead soya production could be tight as one of the worlds biggest producers, Argentina, suffered the driest planting window in 35 years. Plantings are currently running at 11% behind the previous five-year average.