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Mr Reed said: "Food production will always be the primary purpose of the farming sector, but for all farm businesses, tenants, upland and others, to stay viable in an increasingly uncertain world and to make sure they can keep producing the food we all need, they must be able to profit from other activities"

Meat exports, led by beef, increased by 5%

Defra Secretary Steve Reed had his speech disrupted by a chorus of tractor horns outside the Oxford Farming Conference

The campaign aims to support the industry's call to the Government to scrap the family farm tax

Mr Reed was questioned how he will protect tenant farmers, who are threatened by eviction from their holdings, due to landlords being concerned about the Inheritance Tax bill they will face

How have farmers reacted to the Defra Secretary's speech?

Mr Reed said: "12,000 farms and producer businesses went bust under the last government. This is already happening. It is nothing to do with IHT. It is because the sector is not profitable

The Farmers Guardian supported Welsh Black Cattle Society show and sale at Dolgellau topped at 8,500gns for the reserve champion bull

Geopolitics and outside market factors are likely to feature heavily this year

Speaking at Oxford Farming Conference, Defra Secretary Steve Reed said: "I am sorry that some of the action we have to take shocked you in turn, but stable finances are the foundation of the economic growth"