Kerry held the August milk price and Pat Hanlon, Joe Carroll, Johnny Lyne and Noel Hanlon travelled from Co Kerry to further help ice cream sales on the first day of the Ploughing. \ Donal O'Leary
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Most of the co-op boards have decided in the last week to cut August milk price. Speaking to the Irish Farmers Journal, most co-op chairs are hopeful that’s the end of the price cuts for 2019. Prices for butter, whole milk powder and skimmed milk powder have all seen a rise this week. Lower deliveries to some of the main European players are also boosting sentiment.
Over the last number of weeks, butter prices across Europe have seen a bounce. Spot prices for butter are now trading around €3,300/t (ex-factory) but up to €3,600/t in places.
What’s the short-term milk price outlook?
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Arrabawn chair Edward Carr: “That’s the end of the price cuts unless something happens we don’t know about. Butter and other market signals have improved.”
Glanbia chair Martin Keane: “It’s a wait and see for our business and another month will tell a lot. There is still a lot of uncertainty out there. Consumer sentiment is still that bit flat and it’s an unreceptive market.”
Dairygold chair John O’Gorman: “I expect that we are close to bottoming out. We are investing heavily so like all businesses we have financial commitments. I can’t guarantee anything, but I agree the market looks like it’s improving.”
Lakeland chair Alo Duffy: “Brexit is the big unknown but we are hopeful we will get a deal. Our value-added component is helping us. Butter was the concern, but the market seems to have stabilised.”
Aurivo chair Pat Duffy: “The sentiment is positive. Yesterday’s New Zealand auction result helped. The oil attack this week will probably hike processing costs, but, in time it might also help product price.”
Kerry spokesperson: “Global demand and pricing remain under pressure. Market expectations are for a gradual recovery through 2020.”
Carbery chair TJ Sullivan: “We’d be confident that the market is improving, but we have to qualify it as 31 October [Brexit] is coming, and there is no solution on the table just yet.”
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Most of the co-op boards have decided in the last week to cut August milk price. Speaking to the Irish Farmers Journal, most co-op chairs are hopeful that’s the end of the price cuts for 2019. Prices for butter, whole milk powder and skimmed milk powder have all seen a rise this week. Lower deliveries to some of the main European players are also boosting sentiment.
Over the last number of weeks, butter prices across Europe have seen a bounce. Spot prices for butter are now trading around €3,300/t (ex-factory) but up to €3,600/t in places.
What’s the short-term milk price outlook?
Arrabawn chair Edward Carr: “That’s the end of the price cuts unless something happens we don’t know about. Butter and other market signals have improved.”
Glanbia chair Martin Keane: “It’s a wait and see for our business and another month will tell a lot. There is still a lot of uncertainty out there. Consumer sentiment is still that bit flat and it’s an unreceptive market.”
Dairygold chair John O’Gorman: “I expect that we are close to bottoming out. We are investing heavily so like all businesses we have financial commitments. I can’t guarantee anything, but I agree the market looks like it’s improving.”
Lakeland chair Alo Duffy: “Brexit is the big unknown but we are hopeful we will get a deal. Our value-added component is helping us. Butter was the concern, but the market seems to have stabilised.”
Aurivo chair Pat Duffy: “The sentiment is positive. Yesterday’s New Zealand auction result helped. The oil attack this week will probably hike processing costs, but, in time it might also help product price.”
Kerry spokesperson: “Global demand and pricing remain under pressure. Market expectations are for a gradual recovery through 2020.”
Carbery chair TJ Sullivan: “We’d be confident that the market is improving, but we have to qualify it as 31 October [Brexit] is coming, and there is no solution on the table just yet.”
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