Lakeland hopeful of dairy future
The next five years look very optimistic for dairy farmers, according to Lakeland Dairies CEO Michael Hanley.
He said that butterfat prices were under pressure from exports from countries such as New Zealand, but that the future was still bright.
"Looking even beyond five years, I don't think every dairy farmer is going to expand hugely but international demand seems set to continue," he told farmers attending the Teagasc national dairy conference in Athlone.
"So whether I'm just optimistic or very optimistic, the bottom line is that the future looks good."
Mr Hanley also said that his co-op was focusing on the 'development' part of R&D.
"We're focusing on working with the likes of Danone and Nestle to develop the products that they want on a year-round basis and move away from commodities," he added.