IFA dairy chair Tom Phelan has called on co-op board members to stop dragging their heels on milk prices on the back of another lift in the Ornua purchase price index and positive price moves in dairy markets.
“There can be no justification for Irish co-ops not to move on the November milk price, when the lowest payers are nearly 3c/l below the Ornua PPI,” he said.
“This month, our message to co-op board members is clear: stop dragging your heels on milk prices, and pay farmers the extra 1 to 2c/l on November milk that their cashflow is crying out for,” he said.
Phelan pointed out a number of positive moves in dairy markets:
Ornua’s PPI for November has risen a further one point to 106.6 points or 30.26c/l excluding VAT.Fonterra has increased its 2019/20 payout to a mid-range point of NZ$7.30/kg MS (equivalent to 29.62c.l excluding VAT at Irish standard solids).Global Dairy Trade SMP prices have reached their highest level in five years at US$3,068/t, and WMP the highest in three years at US$3,331/t.Friesland Campina has lifted its December price by €0.91/100kg to €36.41/100kg (30.94c/l excluding VAT at Irish standard solids).EU average SMP prices have lifted to €2,500/t for the first time since August 2014.EU average butter prices have risen €30/t to €3,660/t in the last week.EU average raw milk prices have increased 4.5% since July.“All these facts point to steadily improving returns from the marketplace justifying better farmgate milk prices, because there is a good balance between slower milk supply with low stocks, and solid demand growth,” he said.
Read more
High milk powder prices drive Ornua PPI upwards
Beef Plan calls IFA protest 'regrettable'
IFA dairy chair Tom Phelan has called on co-op board members to stop dragging their heels on milk prices on the back of another lift in the Ornua purchase price index and positive price moves in dairy markets.
“There can be no justification for Irish co-ops not to move on the November milk price, when the lowest payers are nearly 3c/l below the Ornua PPI,” he said.
“This month, our message to co-op board members is clear: stop dragging your heels on milk prices, and pay farmers the extra 1 to 2c/l on November milk that their cashflow is crying out for,” he said.
Phelan pointed out a number of positive moves in dairy markets:
Ornua’s PPI for November has risen a further one point to 106.6 points or 30.26c/l excluding VAT.Fonterra has increased its 2019/20 payout to a mid-range point of NZ$7.30/kg MS (equivalent to 29.62c.l excluding VAT at Irish standard solids).Global Dairy Trade SMP prices have reached their highest level in five years at US$3,068/t, and WMP the highest in three years at US$3,331/t.Friesland Campina has lifted its December price by €0.91/100kg to €36.41/100kg (30.94c/l excluding VAT at Irish standard solids).EU average SMP prices have lifted to €2,500/t for the first time since August 2014.EU average butter prices have risen €30/t to €3,660/t in the last week.EU average raw milk prices have increased 4.5% since July.“All these facts point to steadily improving returns from the marketplace justifying better farmgate milk prices, because there is a good balance between slower milk supply with low stocks, and solid demand growth,” he said.
Read more
High milk powder prices drive Ornua PPI upwards
Beef Plan calls IFA protest 'regrettable'
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