P5 Message: Due to less than expected growth in market requirements, the P5 Boards have agreed to reduce the incentive days for the month of October by two days, for a total of 1 day.

A slowdown in retail markets and a slower than expected recovery in the food service sector, mainly explains this change.

At this time no change is being made to the incentive days for November as the situation will be reassessed according to the change in demand.

Note, the over quota penalty of $20/hl remains in effect.

The P5 board’s primary objective is to continuously monitor the milk market situation and meet milk market demand in the most optimal way. Given these uncertain times we will continue to adapt production signals to address market changes, as required.

The table below provides a summary: