Stabilising Milk Auction Brings Relief

UK - The Ulster Farmers’ Union has welcomed the fact that prices stabilised at this weeks Northern Ireland milk auction.
calendar icon 25 February 2008
clock icon 1 minute read

UFU Policy Director Wesley Aston.

UFU Policy Director Wesley Aston said that with feed, fuel and fertiliser costs all rising significantly, dairy farmers need strong farm gate milk prices to offset the higher cost burden which they are now having to cope with.

Wesley Aston said; “Following strong dairy prices through the second half of 2007, it was worrying to see a trend emerging where prices were falling at recent auctions. This weeks auction has seen prices stabilise and we welcome that. With production tailing off in the Southern Hemisphere, dairy markets have been firming and there was an expectation among producers that prices should reflect that”.

“In our opinion there are many good reasons why buyers should be confident. Retail prices are still strong for dairy products, currency exchange rates are in our favour, and global dairy markets are strengthening, so we will continue to highlight that good prices are achievable”.

78 million litres of milk sold this week for an average price of 22.99 pence per litre, up from 22.39 pence per litre last month, and well up on the corresponding figure last year of 17.07 pence per litre.

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