By FWi staff
THE volume of quota sold this week has slumped, with producers reluctant to pay what vendors consider to be the going rate for available supplies.
In a bizarre game of cat and mouse, which has seen 4% butterfat quota prices stick at 37ppl, both buyers and sellers are refusing to budge.
The supply of clean quota available for sale is sufficient, according to agents Ian Potter Associates. But buyers are reluctant to fork out what they consider to be too much money.
Producers are eager to buy, but not at current prices, according to agents Bruton Knowles. Vendors are refusing to lower their asking price.
The leasing market has seen more trade, however. Leased quota is in demand but has met with adequate supplies. As a result, 4% butterfat quota prices are stable at 7.5ppl.