By Olivia Cooper
MILK production almost hit the target profile for the second month running in July, according to the latest Intervention Board figures
July milk production was 8.2 million butterfat-adjusted litres above July 2000, and only 9.4m litres below the annual quota profile calculated by Charles Holt Consultancy.
“The production was much as we expected,” says Charles Holt. “But the butterfat content at 3.86% was significantly higher than predicted, which obviously affects the butterfat-adjusted litreage.
“Production in 2000 was 347m litres below quota, so we really should be ahead of that figure this season.
“Cumulatively, we are still 112.8m litres below profile so far this year,” he adds.
The quota market has been very quiet this week, with most traders waiting for the July figures.
Prices have fallen to about 1ppl for 4% leased quota, and despite strong demand, sales have steadied at about 16ppl.
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