By FWi staff
MILK quota prices eased during the first full week of trading, and purchasers remain content to sit it out while the market finds a stable level.
Clean quota at 4% butterfat fell 1p over the week to 33ppl, according to agents Ian Potter Associates.
Purchasers and vendors alike remain very cautious, say agents Bruton Knowles. Many are waiting for the market to settle before making a decision to buy or sell.
Leased quota values have probably already found a balance between supply and demand, however. The leased price of quota at 4% butterfat is unchanged on the week at 6.5ppl, according to agents Alder King.
But only small volumes are being traded and the market is subdued.
Ample supplies of both clean and leased quota are unlikely push prices up over the next few days unless more buyers enter the market.