Dairy industry needs radical thinking in traumatic times

A PRICE collapse of almost 50% in an 18-month period is a traumatic occurrence by any standards. In round figures, this is what has happened to Irish dairy farmers since the autumn of 2007.

Market returns from the main dairy commodities have declined steeply from their peak in late 2007.

The cuts in milk price from the high 30s (cent per litre) to the lower 20s have wiped out farmers’ profits, leaving some in break-even or loss-making situations.