Remaining milk processors can lift price for November milk
In light of the positive auction from yesterday’s GDT, which solidifies the upward trend in milk prices, IFA Dairy Chairman Tom Phelan said it’s imperative that remaining milk processors increase price for the month of November.
“The IFA adjusted PPI for November was 33.16. Our estimates for the latest GDT auction suggest a 2c/L increase in milk price in the past month. There is scope for a 1c/L jump in milk price to reflect current market conditions,” he said.
It must also be noted that the publication of the Ag-Climatise consultation document and the enhanced nitrate derogation requirements will increase costs for dairy farmers.
“This milk price rise must remain consistent to give farmers the opportunity to meet those costs. It’s about time the marketplace delivered for sustainable milk production,” he concluded.