Members of New York's Congressional delegation are working to provide some financial relief to dairy farmers who continue to suffer from
depressed milk prices.
As the nation's dairy farmers struggle through their fourth year of
depressed milk prices, concerns are rising that many are becoming depressed themselves.
The milk glut has been affecting farmers, cheese producers and others in the dairy industry and has led to
depressed milk prices for four years.
Not exact matches
It pointed out that because of higher Skim
Milk Powder (SMP) volume Tatura
Milk increased production and SMP sales in 1H FY2016, however with
depressed selling
prices generating negative returns.
Several
milk buyers have now brought in similar A and B deals to get farmers to cut production and ease the
milk flood currently
depressing prices.
Goodman's current earnings were
depressed because of one - off factors including delays in recovering a record surge in farmgate
milk prices in New Zealand, rising wheat costs in Australia and supply chain problems in the Australian bakery business stemming from recent factory closures, he said.
But domestic - focused processors are under intense pressure as margins are sandwiched by the spiralling cost of
milk and
depressed prices on retail shelves due to a supermarket war between Coles and Woolworths.