Lorcan Allen is from Moate, Co Westmeath, where he grew up on a small suckler farm enterprise. While still spending his weekends at home farming, Lorcan is primarily employed with the Irish Farmers Journal as an agribusiness, commodities and markets reporter.
Lorcan’s study topic is titled “An investigation of the viability of a futures milk market for Irish dairy farmers in a post-quota environment”, which will examine the potential to create a functioning milk futures market in Ireland similar to those operated in the US and New Zealand.
Lorcan believes that if the Irish dairy industry is to compete successfully on a global stage, especially in a post quota environment, Irish dairy farmers must have access to a working futures market to help them mitigate some of their price risk.
Lorcan intends to visit the US and New Zealand to learn more about the mechanics of futures milk markets in those countries but will also visit countries which import large volumes of Irish dairy such as Egypt, Algeria, Saudi Arabia and China.