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Global Dairy Trade Prices Continue to Lift

21 October 2016

GLOBAL - This week's Global Dairy Trade auction showed an increase in the average price across dairy commodities of 1.4 per cent, continuing the recent positive mood in dairy markets.

Whole Milk Powder prices rose by 2.9 per cent, while Skimmed Milk Powder prices fell by 0.3 per cent. The biggest rise was in lactose, at 5.6 per cent. Butter prices rose by 2.6 per cent.

Pointing to this and other price rises in recent weeks, the Irish Farmers' Association (IFA) National Dairy Committee Chairman Sean O’Leary has said dairy co-operatives have been too conservative in setting the September milk price recently.

“It is depriving farmers of a possible cash flow fillip in what is for most of them the last significant milk production month of the year,” Mr O’Leary said.

He said co-ops need to show greater confidence in what is a real market recovery, and plan out a price strategy that would deliver milk prices of at least 30 cents per litre by spring to support their suppliers’ confidence as much as their cash flow.

“It is disappointing that co-ops, maybe made complacent by a positive farming Budget 2017, and by the prospect of the Basic Payment being made to farmers from this week, undershot what was a realistic price increase,” he said.

TheCattleSite News Desk



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