Looking at the market and the outlook for milk prices, LacPatrick chief executive officer Gabriel D’Arcy said production increases across the large milk producing countries in Europe has resulted in a weakening of the global markets.
Current skim milk powder and butter returns are well below current milk prices but global factors such as rising oil prices and a robust global economy should help to strengthen markets over the coming months. There are also indications that butter stocks are low which could feed into higher prices as the year progresses.
On the domestic markets, Tommy O’Donaghue and Brendan Lappin said the rebrand of Champion Milk in ROI has seen an increase in sales for the brand while liquid milk sales in NI are performing well as are butter sales with the key retail partners.
Each meeting was chaired by LacPatrick chairman Andrew McConkey who expressed his gratitude to those who attended across the four meetings.
“I was delighted with the turnout and the debate at each of the meetings. The meetings show that the supplier base is engaged and interested in all aspects of their co-op. I look forward to engaging with all suppliers on an ongoing basis,” Andrew said.