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News
ANM: Values and throughput buoyant for first half of 2024
Posted: August 16, 2024
Leading member-owned co-operative, ANM Group, has revealed figures for the first half of 2024, showing a buoyant start to the year. Gross livestock values are up compared to the first half of 2023, with the number of members buying and selling through the live ring continuing to increase.
Trading results for the first six months for 2024 have continued to improve with throughput up by 5.2% and commission income up by 5.1%.
The average commission rate at Thainstone is 3.34%, considerably lower than the industry average. Resulting in members of the north east co-operative saving in excess of £500,000 in reduced commission and caps for the first half of the trading year.
For the first six months of trading values have been high across the red meat sector, especially for sheep which are trading at record levels and increased volume. Average livestock unit values are up by 5.54%, the equivalent of £676 to level at £1,445.07.
John Angus, Head of Livestock for ANM Group said:
“Our mid-year figures are extremely encouraging. Our top priority at ANM is to return benefits to our customers and members, and these mid-year figures are testament to our drive to deliver on this commitment.
“Our unrivaled and unique members’ benefits continue to be valued by the farming community which ANM Group has served for over 150 years, from our reduced commission rates for members to individual independent advice to each seller, ensuring best value on the day selling to the highest price.
“Year-on-year our throughput numbers are rising, which simply endorses our belief that the live ring is by far the best place to do business. ANM operates as the leading co-operative within the entire auction sector, with our co-op status allowing us to do things differently and ultimately reap higher rewards for those who trade with us.”