Strong Milk Auction Prices: Confidence To Producers
NORTHERN IRELAND, UK - The continuing trend for strong milk prices at the Northern Ireland milk auction is giving confidence to local producers, according to the Ulster Farmers’ Union.
21 October 2011
1 minute read
In another strong auction this week, the milk price was up slightly to 29.55p per litre, based on 37 million litres sold for November delivery.
UFU Dairy Policy Chairman Andrew Addison said the sustained period of strong milk prices was a boost to producers.
He said: “Dairy markets are firm and the milk auction price will give producers confidence. Our production costs are rising significantly and we are facing another costly winter, but it is heartening for milk producers to see these good prices and obviously we hope that the market will stay like this."
"Average prices at the recent Fonterra auction were also up 1.7 per cent across all products, even though New Zealand is more or less sitting at maximum production. In fact the latest Fonterra auction traded the second highest volume of milk in its history. This reinforces the strength of the global dairy market at present.”
“Closer to home the market is providing strong returns for our processors and the month on month volume of local production has tapered off. Coupled with the recent bad weather, this pattern should continue, meaning our market for dairy products should remain firm. These are positive conditions for our local producers as we approach the winter months”.
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