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Milk price madness

IF dairy farmers thought last year’s first ever June 1 milk price release under the mandatory Dairy Code of Conduct (‘the Code’) was madness, 2021 has made it look like a walk in the park in comparison!

To recap on last year, ‘Mad Milk Monday’ was the term (not affectionately) given to June 1, 2020, by the regions dairy farmers.
Under the mandatory Dairy Code of Conduct, dairy processors were required for the first time to have their minimum milk price payable for the season, published by 2pm on June 1.
In what some farmers saw as an insult, nearly all processors left it until the last hour to release their price.
Some missed the deadline all together, each interpreted the rules differently, and others released prices that were then revised in the following days.
Some processors even used the code as an excuse for changing long standing, contracted arrangements.
The dairy circus of early June could be somewhat amusing, except for the fact that it is the lively hoods of hardworking farmers on the line.
Prices last year were overshadowed by COVID-19, as what this meant for world dairy markets was fairly uncertain.

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