Milk price cut despite Ornua stability

Dairy farmers have condemned co-ops for cutting June milk prices, despite stable pricing at Ornua, the major buyer of Irish dairy produce.

Most June prices were decided before co-ops could digest the implications of the EU’s new scheme to cut milk production, announced alongside the extension of the EU’s intervention programme until next March, which will help soak up skimmed milk powdeproduction surplus to market requirements.

Steady prices in Tuesday’s Global Dairy Trade auction help to substantiate farmers’ claims June milk price cuts were unwarranted.