IRELAND – Returns on milk are now back in line with current milk prices for dairy cooperatives, according to a national index.
Last week, the Irish Dairy Board announced a 4.5 points increase in the February Purchase Price Index to 97.5 points, in-keeping with current milk prices of 30 cents per litre.
Further reports for March have continued on the “same positive trend”, according to Irish Farmers Association dairy spokesperson, Sean O’Leary, adding that markets are coming “into balance”.
He added pointed to Friesland Campina’s two milk price increases this spring and trends in the global dairy trade.
“Irish farmers will welcome these signals of market improvements and look forward to milk prices being at least held for the short term,” said Mr O’Leary.
“Average market prices reported by EU Member States up to the end of last week have continued firming, especially for butter and WMP.
“Average prices reported for Irish butter and SMP are also well up on those indicated for the last week of February, at €3040/t for butter and €2130/t for SMP.
“The gross returns for an Irish product mix at EU average prices now exceeds 35c/l before processing costs, which also indicates that markets have come back up to meet current milk prices.”
TheCattleSite News Desk