Stephen Cadogan: Can farmers count on the 47 cent per litre milk price forecast for 2024?

Dairy farmers will hope Teagasc forecast for the Irish milk price to increase by about 10% is right

In such a volatile business, can farmers count on the 47c milk price forecast for 2024, bearing in mind the Teagasc experts behind it admitted the global economic outlook is uncertain? Picture: iStock

Dairy farmers will earnestly hope Teagasc has got it right, with its forecast of a 47 cent per litre (Vat included) average monthly milk price in 2024.

It would be the second-highest average annual milk price ever, after 2022.