The price farmers are being paid for raw milk is much higher this year than in previous season's, leading to speculation that prices across 2013 will be at record levels. A monthly survey conducted by LTO Nederland indicates that dairy farmers in Europe received on average €35.33/100kgs milk supplied during May. This was 12.5% more than they were paid during the same month in 2012. Irish based dairy companies Glanbia and Kerry each increased their milk price by 30% from a year ago. Virtually all dairy companies are paying more for milk this season than they did last season.
LTO Nederland's calculations indicate that milk prices paid to farmers in Europe in May was 16% higher than Fonterra's milk price at that time.
Milk prices are typically lower during the summer months when milk supplies are more abundant and peak during the later part of the year when the colder weather slows milk output.