IFA National Dairy Committee Chairman Tom Phelan has said co-op board members would meet in coming days to decide on their August milk prices and consider the situation to year end.
The IFA said that the meeting must be the occasion to look back on an extremely challenging farming year, and to return the strongest price markets allow right to year-end.
A Firm Commitment
“Whatever about the slight easing in the first GDT auction of September, European dairy indicators were all firmer at the end of August. They all suggest milk price equivalents based on late August market returns in the low to mid 30’s before VAT, well above the July Ornua PPI and the average milk prices paid by Irish co-ops for July milk,” Phelan said.
“We believe there is scope for co-ops to make a firm commitment to at the very worst hold current payouts at least till the end of the year,” he said.