By FWi staff
THE recent price rally in leased quota prices over the past few weeks has eased slightly, with dairies reporting tight milk supplies, according to ADAS Quota Direct.
“Buyers are holding off leasing quota, awaiting September production figures, which are due early next week,” said ADAS David Pettitt.
“But the main unknown factor in this years production profile will be the number of cows that leave the national herd over the next month.”
Bruton Knowles has reported that lessors are becoming more optimistic about prices later in the year.
“But as the price gets higher, the number of lessees interested in acquiring quota drops,” said quota manager Jonathan Smith.
Trading in purchased quota has remained stable this week with buyers still reluctant to pay current prices.
Leased 4% butterfat quota is trading at 4.2ppl, with 3.83% butterfat supplies trading at 4.0ppl.
Clean quota sales are trading at 23.5ppl for 4% butterfat with for 3.8% butterfat supplies trading at 22.0ppl.