ICMSA “absolutely expects” milk price increase on foot of ‘mini rally’ in dairy markets

Speaking in advance of Co-op’s October milk price announcements, ICMSA Dairy Chairperson, Noel Murphy has said that the association “absolutely expects” all Co-ops and milk purchasers to reflect the on-going buoyancy in the milk market. Mr. Murphy said there were some very questionable differences in the prices being paid by various Co-ops and there were only two payments left in the year that would allow a degree of necessary realignment.

 “The weather has really been a tonic for all farmers this Autumn and the higher price for milk has encouraged  Irish dairy farmers to produce higher volumes in this back end The weather is saving considerable fodder and the situation of farmers  – certainly in terms of stress and mental wellbeing – is in a better place and contrasts favourably with the levels of pressure they were under in Spring and early Summer. Dairy markets are ticking upwards steadily, and those better prices are being used to pay down the bills incurred during that very difficult Spring and early Summer period”, said Mr. Murphy.

 “It’s really important that the Co-ops and processors recognise and follow-up on that positive feeling and that means paying the farmer-suppliers the increase that the Co-ops are themselves receiving – and we mean all the Co-ops and processors paying that increase due.  We absolutely expect that not least because of the mini rally on the butter side again with gains posted in the last two week or so, it will be interesting to see if these gains continue for the month. But there is no doubt that markets are in a positive place resulting in yet another rise in the Ornua PPI for October and a positive GDT auction. The fact that the volumes are reflects that tentative restoration of confidence and also gives farmers a chance to earn more based on higher prices for higher volumes”, concluded Mr. Murphy.

 Ends      7 November 2024

 Noel Murphy, 086-3815575

Chairperson, ICMSA Dairy Committee

 Or

 Cathal MacCarthy, 087-6168758

ICMSA Press Office