Auctions boom despite credit crunch bust
Last updated 19:59, Thursday, 23 October 2008
A COCKERMOUTH auction company has seen its sales rocket over the last few months, despite the credit crunch.
Mitchell’s Livestock Centre, off the Lamplugh Road roundabout, has seen a dramatic rise in its sale of livestock.
Adam Day, 43, livestock director at the company, said: “Some of our auction days and special market days have involved the market being full to the brim with not one pen free and it has not been like this for a long time.
“I am pleased with the amount of sales and this kind of thing affects the whole farming community so it is going to be great for everybody in the industry.”
Mr Day said that sales had been increasing since the start of the year but special breeding sales, held since August, had seen the most dramatic rises.
He added: “We have managed to bring in a number of other customers from all over the country and have been successful in trying to raise the profile of the company.
“This has been through advertising and other contacts but it has been a real team effort.”
Mr Day said there were many factors that had contributed to the company’s increased sales.
He said: “Livestock sales depend on many issues such as import and export markets, the value of the pound and the state of the international markets.
“At this time all these things have come together for us, which is why we are doing so well at the moment.
“There is a strong export market at the moment due to the value of the pound, which is helping us tremendously and has helped the market through difficult times, especially after the foot and mouth outbreak in 2001 and last year.
“South America has also stopped its export market so we have a higher demand and had to import from Europe and from inside Britain, which has also saved us money.
“This is the boost we needed after a difficult few years for the farming industry.”
Mr Day also mentioned that farmers have had to carry on as normal despite the difficult financial climate.
He said: “Even though the financial market is tough at the moment farmers cannot just change what they are doing.
“They need to keep their focus and buy replacement animals – something they do year in, year out.”
