NORTHERN IRELAND MILK AUCTION LIFT ANOTHER PROOF OF MARKET RECOVERY

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NORTHERN IRELAND MILK AUCTION LIFT ANOTHER PROOF OF MARKET RECOVERY
01 Aug 2012

NORTHERN IRELAND MILK AUCTION LIFT ANOTHER PROOF OF MARKET RECOVERY

Dairy

IFA National Dairy Committee Chairman Kevin Kiersey said that, after the positive price outturns for SMP and butterfat in last week’s Fonterra auction, the United Dairy Farmers’ milk auction price lift of over 2p/litre was yet more proof that international markets are recovering in response to slower supply growth and sustained robust demand.
Last Thursday’s United Dairy Farmers’ auction price reached 25.04 p/litre, which at today’s exchange rate is around 32 cents per litre,” Mr Kiersey said.

“Together with continued firmness in EU commodity spot quotes, and the positive outturn for skimmed milk powder and AMF (butteroil) in the Fonterra auction of 17th July, I believe this should give Irish milk purchasers the confidence to announce the end of milk price cuts for this year,” he concluded.

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