O’Leary urges co-ops to retain current milk price

Milk prices are below breakeven in most EU member states, says IFA national dairy chairman Sean O’Leary.

Mr O’Leary said the 10.8% fall in the average Global Dairy Trade auction price was influenced by speculations of strong production increases in Europe post-quota. However, he said that many EU states are unlikely to have a surge in milk output.

“I would urge our co-ops to hold their nerve, and to hold milk prices through peak while greater clarity develops as to European dairy dynamics post-quota,” said Mr O’Leary.