8 October 2007

1 minute read

Europe

41 million litres of local milk sold at this weeks auction averaged 32.39 pence per litre. This is slightly down on last months auction, but a massive 12.62 pence per litre higher than one year ago.

UFU President Kenneth Sharkey said the strong performance in the auction continued to reflect the conditions in a buoyant global dairy sector.

Kenneth Sharkey said; “Milk is in short supply on the world market and the auction price reflects this. What we want to se is this continuing to ‘pull through’ in the form of higher farmgate prices. Dairy farmers have invested heavily in their businesses and indeed continue to do so. They also, like other sectors, face soaring feed bills because of a global shortage of grain. These higher prices will help producers stabilise their businesses”.

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