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Farmers expect that co-ops will, at the very minimum, hold milk prices at current levels for August, ICMSA dairy committee chair Gerald Quain has said.
Processors will begin setting milk prices on Thursday, with the Glanbia board scheduled to meet to set a price.
Quain has pointed to the declining global milk supply as evidence that the ICMSA is “fully justified” in asking co-ops to at least hold their milk price for August and to stop talking down milk price.
Quain said that the market fundamentals remained stable and he asked the co-ops to make a distinction between general economic and political pessimism and the actual data around milk supply and demand.
“The average EU price for milk in July 2019 is estimated at 33.43c/l based on 4.2% fat, 3.4% protein with the three major Irish processors in the league averaging 29.8c/l – a huge gap and cost on Irish farmers,” Quain said.
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