UFU questions ‘downturn’ forecast for dairy markets

Friday, 7 December, 2018

The Ulster Farmers’ Union has challenged the suggestion that dairy markets could face a downturn over the coming weeks. Its dairy policy chairman, William Irvine, said the UFU follows national and global market trends closely and so was confused by reports that prices are about to slip back. “While prices for butter have weakened in recent months, powder remains strong.  While perhaps not as high as earlier in the year our view is that prices will remain stable,” he said.

The UFU says that while views may differ over markets forecasts it believes there is no case for suggesting a downturn. It also warns against any moves to talk down prices when farmers are going through a costly winter. “Local dairy farmers have increased overheads this winter. They need stable and fair prices for the milk they produce, and the signals from key markets are positive. Speculation of a slump, not backed up by facts, could tempt processors into trying to drive down prices in the new year,” said Mr Irvine.