Opening prices welcome news for dairy farmers

The United Dairyfarmers of Victoria has welcomed early opening milk price announcements from Bega Cheese, Warrnambool Cheese and Butter and Burra Foods.

“The UDV has been very strong on the need for prices to be released before the start of season so farmers can budget for the coming season and plan ahead for the year,” UDV President Adam Jenkins said.

“Farmers rely on pricing information to plan their finances and production, which is impossible to do if processors don’t release pricing information until after the start of contract period.”

UDV members passed a motion in May 2017 at the dairy group’s annual conference calling on processors to release their opening prices by early June each year.

“It’s pleasing to see processors listening to their suppliers and others in the industry,” Mr Jenkins said.

Mr Jenkins also praised the strong opening prices – ranging $5.45-$5.50 – from the three processors.

“The announcements are creating a benchmark for market expectations and provides farmers with some certainty as they head into the new season,” he said.

Source: UDV