20p/litre low reached
MILK price has bottomed at 20p/litre and could climb back to 22p/litre within 18 months.
That was the prediction of Milk Marque chief executive David Yeomans speaking to a packed Spotlight on Profit forum at this weeks Dairy Farming Event.
At the end of July Mr Yeomans had forecast a milk price down to 19p/litre in April 1998. But the exchange rate was at last showing signs of easing and prospects were now brighter.
"I dont, in the immediate future, see milk prices bouncing back to 25p. But I believe the price has bottomed at 20p, and provided our exchange rate eases back to levels more in keeping with other countries, prices could improve to 22p within a year to 18 months."