19 November 1999

Quota values shoot up

LEASED milk quota values have shot up with 4% butterfat now worth 8.4p/litre, 1p up on the week.

Milk production figures for October (Business, Nov12) were spurred on by a rise in average butterfat level last month, says Lincs-based Charles Holt. "Some farmers are frightened that theyre losing control and have been panicked into the market. But at these prices its totally uneconomic."

Some brokers say lessors are taking full advantage. "Were going back to them having matched their offers and they simply up the price," says Jonathan Smith of Bruton Knowles. &#42