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mso-padding-alt:0cm 5.4pt 0cm 5.4pt; mso-para-margin:0cm; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman","serif";} </style> <![endif]--><!-- TemplateBeginEditable name="doctitle" --><!-- TemplateEndEditable --><!-- TemplateBeginEditable name="head" --><!-- TemplateEndEditable --><!--[if gte mso 9]><xml> <o:shapedefaults v:ext="edit" spidmax="1026"/> </xml><![endif]--><!--[if gte mso 9]><xml> <o:shapelayout v:ext="edit"> <o:idmap v:ext="edit" data="1"/> </o:shapelayout></xml><![endif]--> </head> <body bgcolor="#FFFF99" lang=EN-GB link="#42413C" vlink="#6E6C64" style='tab-interval:36.0pt'> <div class=WordSection1> <p class=MsoNormal style='background:#ADB96E'><span style='font-family:"Verdana","sans-serif"; mso-fareast-font-family:"Times New Roman";color:black'><a href="index.html"><span class=SpellE>DairyNI</span></a> <o:p></o:p></span></p> <!-- end .header --> <div> <h1 style='background:white'><span style='font-family:"Verdana","sans-serif"; mso-fareast-font-family:"Times New Roman";color:black'>February 2012<o:p></o:p></span></h1> <p style='background:white'><u><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>Comment <o:p></o:p></span></u></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>1.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>On the markets at time of writing the cheese seems to be holding up the best, with cream and powder back a bit.<u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>2.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>Upwards pressure still on costs with our average breakeven milk price (covering drawings, HP and loan commitments and heifer rearing) at just under 28ppl.<span style='mso-spacerun:yes'>  </span>Dairy farmers are now fed up being told about the fortunes they are making.<span style='mso-spacerun:yes'>  </span>We reckon most will make less money in 2011-12 than they did in 2010-11.<span style='mso-spacerun:yes'>  </span>If milk prices come down much in the next few months it won t be pretty.<u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>3.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>Having said that there are more people now looking at some form of limited company, mostly in a partnership role in the farm.<span style='mso-spacerun:yes'>  </span>It might be a good option for higher rate taxpayers but take care.<u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>4.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>Nitrogen at time of writing is around £265.<span style='mso-spacerun:yes'>  </span>People are getting texts saying it s going up, and we are also hearing that it may come down again after 1<sup>st</sup> cut time. <u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>5.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>Lot of competition out there for milk.<span style='mso-spacerun:yes'>  </span>I know of several farmers who ve been contacted by several buyers recently, and buyers are going further away to pick up milk too. <u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>6.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>The trend at the moment is definitely upwards as cows are milking better than this time last year, due to slippages in calving patterns because cold weather last winter, and these cows are now calving.<span style='mso-spacerun:yes'>  </span>Fats and proteins are running behind though.<u><o:p></o:p></u></span></p> <p style='margin-left:54.0pt;text-indent:-36.0pt;mso-list:l0 level1 lfo2; background:white'><![if !supportLists]><span style='font-size:16.0pt; font-family:"Verdana","sans-serif";mso-fareast-font-family:Verdana;mso-bidi-font-family: Verdana;color:black'><span style='mso-list:Ignore'>7.<span style='font:7.0pt "Times New Roman"'>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; </span></span></span><![endif]><span style='font-size:16.0pt;font-family:"Verdana","sans-serif"; color:black'>The next 3 months are the most expensive in the year (after November for those with a big conacre bill).<span style='mso-spacerun:yes'>  </span>Big fertiliser bills, possibly slurry spreading, and normal winter milk costs, all can put a big hole in the current account.<u><o:p></o:p></u></span></p> </div> <div> <p style='background:#CCC49F'><span style='font-family:"Verdana","sans-serif"; color:black'><a href="index.html">Home</a><o:p></o:p></span></p> </div> <!-- end .footer --></div> <!-- end .container --> 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