Irish Dairy Board says brighter times will follow tough year

Dairy farming is facing a very difficult year, but the medium to long-term prospects are positive, according to the Irish Dairy Board chairman Aaron Forde.

He told a meeting of the Joint Oireachtas Committee on Agriculture there had been record global milk output growth through 2014 of about 5.5%, driving high stocks, particularly in whole milk powder and cheese.

Slowing demand from Russia and China, two of the globe’s top dairy import markets, had weakened sentiment and prices. But milk output continued its momentum into 2015.