Analysis MILK
Irish milk supplies are picking up again
The Irish milk supply in the first five months of 2024 was lower than the milk supply in the same period a year earlier. The pressure on the income of dairy farms is increasing. New calculations on the income of Irish dairy farmers reveal a tight financial situation.
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Irish milk supplies amounted to 1,2 million tonnes in May. This is the lowest in the past three years and 2,28% lower than in the same month in 2023. However, the difference is less significant than in April, when milk supply was 7,88% behind April last year. Compared to the five-year average, May's milk supply is 18.720 tons lower.
Milk supplies from January to May amounted to 3,4 million tonnes, which is also the lowest in three years and 5,94% lower than the same period last year. This is evident from the latest Eurostat data. The Irish milk supply was mainly affected by the wet weather at the beginning of this year. But those are not the most important months for Irish milk production. Milk supply should generally peak in the months of April, May, June and July.
News medium Irish Examiner reports on the incomes of Irish dairy farmers that would come under further pressure. Weather conditions drive up costs and reduce milk production. And milk prices have not risen to cover costs. Uncertainty is increasing and that prevents dairy farmers from making investments.
An average dairy farmer earns €5,76 per hour according to the Irish milk suppliers association ICMSA. According to The Irish Farmers Journal, that would be less than half the minimum hourly wage. Denis Drennan of ICMSA calls it 'a shame that the most technical and trained dairy farmers have to deal with this'. The calculation assumed a milk price of 43 cents per liter and production costs of 37 cents per liter.