Scotland’s marts generated £605m last year

16 Oct 2023

The Institute of Auctioneers and Appraisers in Scotland (IAAS) has released its 2022 throughput figures gathered from its members, who operate auction markets in Scotland.

Alan Hutcheon, IAAS President, said:

“Markets recorded total throughput of 2.76m head of livestock, a small increase on the previous year, generating just over £605m for the 2022 calendar year.”

Both throughput and revenues represent a slight year-on-year increase.

Total cattle numbers were down by just over 3.5%, reflecting the continued decline in the national herd. Sheep numbers showed a slight increase in the year, resulting in a higher total headage throughput.

Mr Hutcheon, who took over as President earlier this year, added:

“The headline figures are pleasing, given the ongoing pressures facing farmers and IAAS would like to thank all of our customers who use the live ring, either as the place to sell stock to the highest bidder, or for buyers to efficiently buy the livestock with the right specifications for their needs.”

He noted that cull cow numbers have increased 11.5% for the year, raising concerns surrounding the continued reduction of beef breeding cattle numbers and the availability of youngstock for breeding and finishing.

“Younger cattle supply remains tight against demand for the same driving the store cattle trade higher,” he explained. “Good quality breeding cattle are still in demand, however any stock not reaching the quality demanded by buyers is proving more difficult to move at the moment. This is what underpins our view that the breeding herd continues to contract at a higher rate than the long run average.”