13 Feb 2014
IDB STABLE JANUARY PPI INDEX THE LATEST INDICATOR OF CONTINUED MARKET STRENGTHDairy
IFA National Dairy Committee Sean O’Leary said the announcement by the Irish Dairy Board that their January PPI would hold at the historically high December level of 133.6 points was the latest indicator of strong dairy markets.
He said this should increase co-ops’ confidence in the lasting ability of dairy prices for this year, and should encourage them to announce to suppliers that they will hold 2014 prices.
“European prices for early February are showing slightly easier butter prices (just under €4,000/t), but firming powder (€3,310/t for SMP; €3,790/t for WMP), whey powder (€1,050/t) and Cheddar cheese (€4,070/t) prices, and the IDB index is reflecting this.”
“As we start our series of top level visits to co-ops later this week, I will be urging all of them to give dairy farmers confidence and transparency for the year by calling their 2014 milk price”, he concluded