Feed sales remained strong, with many dairy farmers retaining high input regimes through the breeding season. One in four farmers surveyed expect to increase investment on the farm in the next 12 months, led by dairy and tillage farmers. Given the €0.20 per litre price increase between 2017 and 2018, this means an additional cost to Irish farming of €57.6m due to higher oil prices. Milk prices The milk price cuts by the major processors over the last two months have hit hard. "Co-ops must now stop talking down milk prices, and start leveraging those higher returns for suppliers," said Mr Phelan.

Source: Irish Independent May 25, 2018 06:33 UTC