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The farmgate milk price has increased by 30.6 % from 2016. Last year, the average price for September milk was 29.1c/l at 3.7% fat and 3.3% protein.
However, prices have increased substantially over the last 12 months and this September saw co-ops such as Aurivo pay 35.10c/l and Glanbia pay 33.11c/l for manufacturing milk.
The meteoric rise in the cost of butter this year also contributed to the steady rise in milk price, with prices hitting €5,500/t in June. However, recent decreases in the GDT auction indicate that the butter market is starting to melt.
Pig farmers saw the second highest price increase, with a 10.2% rise in the cost for pig products.
The projected 9.6% increase in price was also helped by a 0.9% overall decrease in the price of inputs, with fertiliser prices dropping by 6.2% in 2017 and feeding stuffs dropping in price by 1.7%.
However, the tillage sector continues to suffer with only cereals making an increase in price of 1.3%.
Potatoes experienced a 5.9% drop in price and vegetables a 0.2% drop in price. Tillage also had the highest increase in input price, with a 5.3% surge in cost in “energy plant protection products”.
GDT records third consecutive decline
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