ICOS says Irish dairy industry may have "dodged a bullet"

Sources in ICOS suggest that the dairy industry may have “dodged a bullet”, with Eurex butter and skim milk powder quotes having risen by 10.3% and 11.3% respectively in the past month.

According to the co-ops organisation, dairy markets are still quite weak, with price quotes still a long way off the highs of 2013 and early 2014 — but there has been a significant tightening of markets.

The €3,057 quoted for butter and €1,990 for SMP value the milk equivalent at only 24.7c per litre, plus VAT. But that’s 3c up from last month.