Over recent weeks there has been an increased focus on the cost of milk production and how this relates to milk price. There is now great concern about the high cost of feed and the quality and availability of forage in the coming months. The cost ofpurchased feed this winter is likely to be 24% higher, based on a comparison of the forward price of feeds now compared with the price in March 2012, with soya increasing by 46% and rapeseed meal by 31%. To project the average feed cost for 2012/13 is less straightforward as this higher feed cost applies to the winter period, which is about half of the financial year.
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