Irish milk prices ahead of the pack

IRISH milk price increases in the year to May were surpassed only in Belgium, according to the EU section of the international milk price review compiled by the Dutch Dairy Board (Productschap Zuivel).

This reflects the Irish dairy industry’s dependence on bulk commodities like butter and milk powder, for which there have been tremendous price rises, according to the Dutch Dairy Board.

But they said farmers in the US and New Zealand are gaining much more from the buoyant global dairy product market. For example, Fonterra in New Zealand is forecasting a record payout for 2007/08 milk solids, 27% higher than the current season forecast.