Farmers with pre 1996 cattle are being urged by the National Farmers Union to take advantage of the weaker pound and not leave it until the last minute to register animals for the Older Cattle Disposal Scheme (OCDS).
The latest figure for OCDS compensation issued by the Rural Payments Agency, which is based on a flat rate of 293 euros, means any cattle entering the scheme and meeting the required criteria would be worth £230.72 in compensation. The weaker pound means farmers will receive more per animal than they did last year, even though the flat rate payment was 10% higher at 324 euros.
NFU livestock adviser Alastair Johnston said: "It is important that farmers book their older cows and bulls, born and reared in the UK before August 1 1996, into the OCDS sooner rather than later, or they could lose compensation if they leave it too late. It is in producers' best interests to make the most of the weaker pound and get cattle entered."