Milk Prices

Following a price cut announcement from 1^st July, Dairy Crest has confirmed it will not be making anymore price reductions until at least the end of September – is this another sign that markets have reached the bottom?  Those on the Davistow contract will face a further cut of 1ppl from 1^st July, but the company has put a price floor in place to give suppliers some stability; this does not prevent it from increasing the price, should markets warrant this.  Arla cut its milk price by 1ppl from June and there is a suggestion that this may also be its last price cut; but nobody is forecasting prices will rise anytime soon.