Dairy farmers in need of some more four-leaf clovers

Dairy prices dropped 2.9% on the GlobalDairyTrade index in the two weeks to March 15 as the European Union announced further financial aid for European dairy farmers struggling with low international prices. Dairy production in Europe increased 2.5% during 2015, with the removal of export quotas enabling more efficient European producers to expand. Heading into the Northern Hemisphere’s spring season, this additional financial aid will further support European producers intensifying their output this year, posing more of a threat to the recovery in dairy prices.