The liquid standard litre 4% bf, 3.3% protein, 30,000/ml Bactoscans, 200,000/ml SCC, 1 million litres a year on EODC but before seasonality, monthly profile payments, balancing, B price additions, capital retentions or annual incentive schemes. The manufacturing standard litre is to exactly the same specification with the exception of 4.2%bf and 3.4% protein.
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This is a 1 Euro Cent increase, which equates to 0.85ppl addition to the standard liquid litre to give a 1st August price of 30.16ppl and a 0.88ppl addition to the standard manufacturing litre to give 31.38ppl. No change in respect of the Arla organic milk price, which remains at 40ppl (liquid) and 40.8ppl (manufacturing) This increase has been attributed to the confirmed hot weather, which has impacted negatively on Arla’s European milk intake.
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Arla has decided not to utilise any milk from UK farms who obtain a derogation to feed non-organic fodder/feed as a measure to maintain consumer confidence in Arla’s branded organic products. It is expected that derogations will be issued by various authorities very soon as a result of the exceptionally hot weather, including the UK. Any farmer who uses the derogation and feeds non-organic feed will find his or her milk excluded from Arla’s organic products until six months after the farm returns to full organic forage.
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First Milk has appointed Chris Thomas as non-executive Chairman to replace Clive Sharpe from 1st August. Chris has held a number of senior executive positions in businesses like Tulip UK, St Ivel, PepsiCo and Mars.
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This will come over the next 2 years and will boost the sites cheese output and efficiency.
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Crediton’s latest 1ppl price increase takes producers’ standard liquid litre milk price to 30ppl, a price which Crediton have committed to hold until at least 31st December 2018 as a minimum floor price not a maximum.
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This takes producers’ standard liquid litre milk price to 27.95ppl
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Last week’s GDT auction produced the 4th consecutive average price fall in only 6 weeks with the average achieved down 1.7% to US$3222 to its lowest point in 2018 and hot on the heels of an eye-watering 5% drop only two weeks ago. Volumes available were down 4% to 25,454 tonnes and the negative trend is a concern, particularly for New Zealand dairy farmers.
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The general trend is still negative. Butter futures on the EEX were down 1.43% on the week, which takes the accumulated total drop to 11% in the past 6 weeks. SMP futures on the EEX were down 1.63% on the week, which takes the accumulated total drop to 5% in the past month. To make matters worse the value of sterling strengthened against the Euro.
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The EU sold only 2,400 tonnes of its June 2016 SMP stocks this week at prices ranging from €1125 tonne to €1200 tonne (£1,004 to £1,071). This is a disappointing result both in terms of tonnage sold and the price achieved compared to the tender result achieved only a month earlier when 23,532 tonnes sold (10 x this months) for between €1195 to €1400 (£1,067 to £1,250) The Commission now look unlikely to achieve their goal of clearing all remaining Intervention SMP stocks by the end of 2018.
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EU total milk production January to April is up 2% year on year. Denmark saw its May production the largest on record since quotas were introduced in May 1984. Germany up 3.2% (January to April 2018), France +3.7%
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