Co-op Run Out Of Excuses After Further Dairy Price Increases.

IRELAND - IFA National Dairy Committee Chairman Richard Kennedy today (Tuesday) said that, after the IDB increased both butter and SMP prices again in early March, co-ops had no more excuse for caution on milk price. He said his call for fully justified immediate milk price increases of up to 2.2c/l (10c/gal) was clearly vindicated, and called on co-op board members to secure those price increases for their fellow farmers in the coming days.
calendar icon 14 March 2007
clock icon 1 minute read

With butter up a further €100/t and SMP by €158/t retrospectively from 5th March, the IDB combined SMP/butter index is now up a further 1.8c/l (9c/gal) to 32c/l. The total increase since July 06 is now 6c/l (28c/gal).

“Co-ops who are currently paying a base price of between 23.5 and 25.3c/l are getting totally unprecedented margins over the IDB SMP/Butter index of between 6.7 and 8.5c/l (30.5 and 38.6c/g),” Richard Kennedy said.

“Co-ops have no excuse for any further caution on milk price. A price increase is fully justified straight away,” he added.

“Co-op boards will be meeting in the coming days to decide on February milk prices. Now that milk production is picking up, and that co-ops are benefiting from vastly improved returns on all commodities, board members must secure fully justified milk price increases of at least 2.2c/l immediately for their fellow-farmers,” he concluded.

TheCattleSite News Desk

© 2000 - 2024 - Global Ag Media. All Rights Reserved | No part of this site may be reproduced without permission.