It’s now 11 consecutive GDT auctions with no upward average price movement. Today’s auction recorded an average price of US$2851 down a further 2% from the US$2885 recorded 3 weeks ago although SMP recorded an increase. Notable movers were: Cheddar down 4.6% to average US$3250 tonne WMP down 2.9% to average US$2655 tonne Butter down 1.
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Arla have confirmed there will be no change in its November 1st milk price at 31.21ppl based on the standard liquid litre and 32.37ppl on a standard manufacturing litre.
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Given the fact Muller are one of only a few milk purchasers who are Voluntary Code compliant they were always set to be the dam busters and today have confirmed a 1ppl price drop for 1st December, which has come as no surprise to those who study the markets. During the next day or two it’s a near certainty a heap of milk purchasers, particularly those in the liquid middle ground area, will follow Muller with 1st December price cuts and you wouldn’t rule out the odd cheeky and desperate milk buyer even cutting producer prices from 1st November which would cause a stir!! The Muller standard liquid litre price for November 1st is 29.
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Due to higher global milk supplies, particularly in Europe and the US, Fonterra has reduced its forecast farm gate milk price for the current 2018/2019 year from $6.75 per kg milk solids (25.32ppl) to $6.25 to $6.50 (23.44ppl to 24.38ppl) The CEO of Fonterra commented “Global demand is simply not matching current increases in supply”
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This takes producers liquid standard litre price to 29.8ppl and is tipped to be the last GB price increase of 2018 and in the top 3 liquid prices from the league table below.
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Liquid Standard Litre Manufacturing Standard Litre Arla Co-op Members 31.21 (30.16) 32.47 (31.38) Crediton Dairy 30.00 (30.00) - Freshways 29.80 (29.59) - Wyke Farms 29.65 (29.65) 30.69 (30.69) Barbers 29.58 (29.58) 30.68 (30.68) South Caernarfon Creameries 29.
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In the last bulletin we incorrectly suggested that First Milk were the only buyer to stand on for October. This was a big error as can be seen above where 13 out of 17 stood on for October 1st.
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Following a 6 month trial involving 79 farmers Arla have launched their UK360 programme, which is a new set of higher standards than the basic Red Tractor Standards, which encompass the best on farm practice for animal welfare, animal health, people/staff development, environmental and natural resources, community engagement as well as economic resilience and reinvestment.
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Business at First Milk continues to make positive steps forward and today the co-op has announced three member initiatives/changes. Capital contribution targets will be frozen at members’ current level meaning members who want to expand will no longer be compelled to fund increased capital contributions. The introduction of an annual 13th payment from April 2019.
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Muller has announced completion of Britain’s largest ever dairy integration following its acquisition of the Dairy Crest Liquid business which it claims gives it a 25% share of Britain’s 12.4 billion litre farm gate milk business (3.1billion litres) making them number 2 to Arla who process 3.8 billion litres (31%). The two businesses process 56% of all Britain’s milk.
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First Milk are upping the stakes on farm assurance recognising their highest achieving members with awards for Animal, Environment and People categories. Alan Conway, Northumberland won the Animal category for on farm improvements to animal welfare. Collingthwaite Farm, Nottinghamshire won the Environment category. The Pritchard’s from Fishguard and Maughans Farm, Cumbria were joint winners of the People award.
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It’s Ian who is selling this on Ebay Item number 273504226468 – ends this Sunday – see link below: https://www.ebay.co.uk/itm/1962-Fordson-Super-Major-barn-find-on-original-RF60-buff-log-book/273504226468
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