MILK QUOTA UPDATE FROM CARVER KNOWLES
The quota trade is like the weather and extremely cool with vendors reluctant to take offers on either leasing or sales.
Much press coverage relates to the milk price. It is interesting to note that in 1992 the milk price was similar to current and sales quota was at 33.5ppl and leasing at 6.5ppl. Production on a weekly basis remains well above previous years with a strong butterfat. It is therefore likely that the current monthly trend of higher production will continue.
Many producers remain in the market for cover just when they will move time will tell but in my view they should consider taking some cover now.
Quota trading at
Sales: 18.30 - 18.75ppl
Leasing: 5.70 - 5.90ppl
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