Milk haulage company enters administration
One of the Britain’s leading milk haulage companies, Lloyd Frazer, entered administration last week, causing major disruption for dairy farmers and processing giants Arla, Muller and Meadow Foods.
Based in Warwickshire, Lloyd Frazer and has a strong presence in the west midlands and northwest England, as well as the Welsh borders.
After its operating licence was revoked, assets such as tankers were seized and the haulage fleet was prevented from lifting milk on Friday 22 September.
Dairy processors moved quickly to put contingency plans in place to ensure milk was collected on farms. However, some farmers still had to dump milk over the weekend.
Early this week, Lloyd Frazer’s parent company, Barbican Capital which has Irish links, is understood to be seeking legal action against the financial institutions behind the administration order.
According to Barbican Captial, the firm was solvent at the time and incorrectly placed into administration.
Positive commodity prices boosts MPI
An upturn in price trends for dairy commodities has boosted the milk price indicator (MPI) published by the UFU.
The latest MPI rose by 0.51p/l to 31.89p/l, making it the second successive price increase in a row.
While any uplift in price is a positive development, supply and demand in dairy markets remains delicately balanced. Processors indicate this means any recovery in milk price will be slow.
Factoring in transport costs and a margin at processing level, the MPI points to a base milk price in the region of 27p to 28p/l in late 2023.
Read more
Tide turned quickly for NI milk prices
NI dairy farmers suffer massive income hit
Milk haulage company enters administration
One of the Britain’s leading milk haulage companies, Lloyd Frazer, entered administration last week, causing major disruption for dairy farmers and processing giants Arla, Muller and Meadow Foods.
Based in Warwickshire, Lloyd Frazer and has a strong presence in the west midlands and northwest England, as well as the Welsh borders.
After its operating licence was revoked, assets such as tankers were seized and the haulage fleet was prevented from lifting milk on Friday 22 September.
Dairy processors moved quickly to put contingency plans in place to ensure milk was collected on farms. However, some farmers still had to dump milk over the weekend.
Early this week, Lloyd Frazer’s parent company, Barbican Capital which has Irish links, is understood to be seeking legal action against the financial institutions behind the administration order.
According to Barbican Captial, the firm was solvent at the time and incorrectly placed into administration.
Positive commodity prices boosts MPI
An upturn in price trends for dairy commodities has boosted the milk price indicator (MPI) published by the UFU.
The latest MPI rose by 0.51p/l to 31.89p/l, making it the second successive price increase in a row.
While any uplift in price is a positive development, supply and demand in dairy markets remains delicately balanced. Processors indicate this means any recovery in milk price will be slow.
Factoring in transport costs and a margin at processing level, the MPI points to a base milk price in the region of 27p to 28p/l in late 2023.
Read more
Tide turned quickly for NI milk prices
NI dairy farmers suffer massive income hit
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