United milk auction slips to 29.58p
Published November 5th, 2007
UNITED Dairy Farmers’ milk auction on Thursday resulted in an average price of 29.58 pence per litre.
“This was another good auction result for United members,” said David Dobbin, the United Group chief executive.
“United has now sold all its milk supplies for the remainder of 2007 at prices close to or above 30 pence per litre. This will ensure good prices for our members in the run-in to the New Year.
“Our base prices will continue to move up, even though auction prices are now falling, because of the time lag between the sale of the milk in the auction and the payment for that milk to our members.
“As expected, the average price in the latest auction was below the exceptionally high levels seen in recent months, but was still almost 10 pence ahead of the same auction last year.
“At this time of the year, auction prices normally fall as the volume of milk available for sale rises as we move away from the autumn trough in milk supply and closer to the spring peak. In this month’s auction 44 million litres of milk were sold for delivery in December, January and February – 60 per cent more than was sold in the record auction three months ago. www.farminglife.com
Share This Article by Email or Social Web
