55c/L base milk price ‘justified’ in months ahead as prices already hitting record highs

"We have to see where trade is going, at the prices you’re at, there’s bound to be a bit of burn off."

"Tight global milk supply has pushed European dairy product prices to record levels, with high input costs appearing to be curtailing any major global milk supply response."

A 55c/l base milk price “or maybe a bit more” for suppliers in the coming months would be “quite justified”, dairy committee chairman of the Irish Creamery Milk Suppliers’ Association (ICMSA) has said.

With “good demand for product” and supply being “scarce enough”, milk prices are being “driven up” to record level highs, despite another slip of 2.9% in the Global Dairy Trade price index in the most recent trading event.