Average milk price down 8% on the year, latest figures show
© Tim Scrivener The average UK farmgate milk price in October was 8% below October 2014 levels, according to the latest Defra figures.
However, milk prices increased by 2.6% in October, compared with September values, to average 24.23p/litre.
“This increase is partly affected by bonus payments to some producers,” said the report.
See also: Low farmgate prices to push more farms to market
Monthly milk production in October followed a similar pattern to previous years, with production increasing 3.3% on the month to 1.19m litres, which was a 3.1% increase on October 2014 levels.
“Cumulative production for the milk year to date reached 1.19bn litres – 36m litres above the same time last year.
UK butter prices fell 7% in November to £2,000/t, while skimmed milk powder fell nearly 8% to £1,200/t, said a report by AHDB Dairy.
“This has decreased the value of the actual milk price equivalent by 1.7p/litre to 16.2p/litre.”
Cheddar markets were very quiet in November with little trade, while whey butter and whey powder prices fell 3% and 7%, respectively, resulting in the milk for cheese value equivalent falling 8% to 19.1p/litre.