Milk Price Disappointment
UK - The Ulster Farmers’ Union says there will be disappointment and concern among dairy farmers following the drop in milk prices at the Northern Ireland milk auction. 92 million litres of milk sold for an average price of 23.56 pence per litre, a fall of 6 pence per litre compared to last months auction.
10 December 2007
1 minute read
* "This is a significant drop in prices and it will cause concern among producers." |
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UFU President Kenneth Sharkey
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UFU President Kenneth Sharkey said; “This is a significant drop in prices and it will cause concern among producers. The industry was enjoying the benefits of a buoyant global market for dairy products, but the auction result will dent farmers confidence. Option milk from previous auctions had been rejected and while a dip in prices was expected, a 6 pence drop is disappointing”.
However the UFU said the overall dynamics of the global dairy market were still positive. Kenneth Sharkey said; “We have seen in the past year that milk is a global market and the global shortage of milk has steadily driven up market prices. The fundamentals of global supply and demand are still good and I hope that prices will remain firm into next year. This months auction is still almost 5 pence per litre higher than the corresponding auction last year”.
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