Co-ops expected to cut milk price

Arrabawn is predicting a milk price of 28cpl this year, a projection likely to see other co-ops rapidly follow its 1.95c March price cut to 32.5c per litre.

On foot of a sharp 9.9% price fall unveiled by Fonterra’s latest Global Dairy Trade Index. Bloxham Stockbrokers predict the other Irish co-ops, who are mostly offering around 34cpl, will follow Arrabawn’s lead shortly.

Arrabawn members attending the co-op’s AGM in Nenagh, Co Tipperary, yesterday accepted the board’s reasons for cutting its March milk price.