Farmers “will not tolerate processors playing down” the milk price – with the rise in commodity prices based on the latest Global Dairy Trade (GDT) index “equivalent to a farmgate price of over 40c/L for farmers”, the Irish Farmers’ Association (IFA) has said.
Share on twitter
Share on facebook
Share on linkedin
Share on whatsapp
Share on email

IFA Dairy Committee chairman Stephen Arthur said co-ops cannot ignore the trends in the latest GDT auction, which has recorded a dramatic jump in commodity prices.

The auction, which concluded earlier today (Tuesday, March 2), resulted in an overall index increase of 15%.

Reacting to this, Arthur said:

This rise in commodity prices is equivalent to a farmgate price of over 40c/L for farmers. Movements south of the equator point to a very positive outlook in milk price for 2021.

“As we approach peak, we will not tolerate processors playing down the price. There is plenty of scope for milk price to rise in the next few months,” he said.

Pointing to the euro values of today’s results, the chairman noted that the major highlight from today’s auction was the 21% jump in whole milk powders to €3,625.

Butter is up by 13.7% to €4,839, while prices for cheese showed modest growth of 1.3% to €3,555, he said, adding:

There has been a surge in dairy imports by China, matched with weaker than expected milk supplies from New Zealand and Australia leading to tighter supplies in the Southern hemisphere.

Co-ops cannot ignore this, Arthur concluded.

Shares of Saputo Inc. SAP, -0.63% dropped 2.76% to C$33.15 Monday, in what proved to be an all-around negative trading session for the Canadian market.

You may be interested in

Deja una respuesta

Tu dirección de correo electrónico no será publicada. Los campos obligatorios están marcados con *

To comment or reply you must 

or

Related
notes

Cerrar
*
*
Cerrar
Registre una cuenta
Detalhes Da Conta
*
*
*
*
*
Fuerza de contraseña

SUBSCRIBE TO OUR NEWSLETTER