Milk Auction Price Boost
UK - The Ulster Farmers’ Union has described the significant rise in prices at this weeks Northern Ireland milk auction as a morale boost for local dairy farmers, ahead of the costly winter production months.
22 October 2010
1 minute read
UFU Dairy Policy Chairman William Cromie said: “Prices have risen by over 3 pence per litre at this weeks auction, reflecting strong demand in the global dairy market.
"Prices paid at auctions in recent months have been disappointing and producers will welcome this months auction result.
"We are now entering the costly winter months of production and feed prices have risen due to global grain shortages. The increase in prices will be needed by producers to offset rising costs and maintain investment”.
William Cromie added: “The increase in prices reflects strong demand for dairy products, in particular the commodity market. Difficult weather conditions in other parts of the world including recent cold weather in New Zealand; and a locust plague in Australia, have disrupted dairy supplies and prices have strengthened as a result.
"The challenge now is to ensure the benefits of rising market conditions are reflected accurately in farm gate prices as soon as possible”.
At this months milk auction, 37 million litres of milk sold for an average price of 29 pence per litre, a rise of 3.2 pence per litre on the previous month.
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