Like most dairy farmers at present, Nigel and Edna Corbett are feeling the pressure of depressed milk prices and the real pressure this places on total farm income. Reviewing dairy benchmarking for the year ending March 2015, the farm received 28.27p/litre on average for all milk sold that year. Comparing this with current prices highlights the difficult reality most dairy farmers are facing.
In Nigel’s case, total income from milk sales is down 37% for the period April to July this year. While 4% of this can be attributed to reduced milk volume sold in the period, the remaining 33% is all milk price related. If current prices continue, a projected average milk price of 20p/litre for the year ending in March 2016 may be a reality.