Heifer called 'Posh Spice' tramples world record by selling at auction for £262,000

• Video report by Kate Walby

A heifer named Posh Spice has been sold at auction in Cumbria for a world record-breaking £262,000.

Bred at Lodge Hill Farm, in Shrophsire, the pedigree Limousin is now proudly owned by a farmer from Penrith.

It used to be that bulls sold for thousands of pounds at auction, but breakthroughs in IVF methods mean the value of heifers has soared. Posh Spice could potentially have hundreds of offspring. Her breeders have described the sale price as 'mind blowing'

Craig Douglas, who is Head of stock at Jenkinson Farms, told ITV Border: "Posh Spice was a standout for us, with her back breeding and her mother has been a three-time champion in Ireland. So her breeding was totally standout for us.

"It seems a lot of money, and it is a lot of money, but you can't really put a price on genetics in the Limousin breed so for us it's a good investment."