Irish milk prices bottom of EU league table
In its rolling average 12 month milk price rankings for August, 2005, Glanbia were ranked at €26.68 per 100kg (25.9 cent per litre), and Kerry Agribusiness at €27.12 (26.33c/l).
The LTO figures are for standard milk with 4.2% fat; 3.35% protein; 350,000 kg per year; total bacterial count 24,999; somatic cell count 249,999; VAT excluded, milk collected every other day.
Of the 14 other co-ops and dairies in the review, only First Milk in the UK paid less, at €24.08 (23.38c/l).
Dairies in Belgium, Denmark, Finland, France, Germany, Holland and Sweden were included in the review. The highest milk price, €34.68 (33.67c/l), was paid by the Kymppi Group in Finland.
According to LTO, average prices last August were €18.73 (18.18c/l) in New Zealand and €28.16 (27.34c/l) in the US. Since August, French farmers and milk processors have agreed a price cut equivalent to about 3%.
According to LTO, dairy product buyers are holding off placing orders in expectation of world market prices weakening further, ahead of favourable production forecasts in the Pacific area and Latin America.
LTO attributed downward pressure on EU prices this autumn to cuts in export refunds, combined with slow international buyer interest due to high world prices and the selling forward of much of New Zealand's early season production, and high milk powder availability.
