Majority of co-ops hold milk price for October

The majority of co-ops have decided to hold their price for October milk supplies.

Carbery has cut its October milk price by 1c/L bringing it to 27.9c/L.

Arrabawn co-op has held its October milk price at 26.00c/L and Aurivo has held its price for October milk at 25.00c/L.

Dairygold has also decided to hold its October milk price at 25.50c/L; the same price it’s held since July.

Glanbia has announced that it is to hold its price for supplies of October milk at 25.00c/L including VAT – farmers with no shares will receive 24c/L, while Kerry Group has also held its milk price at 26.00c/L.

The Board at Lakeland Dairies met and decided to hold its price for October milk at 26.25c/L.

LacPatrick is expected to set its milk price on Friday.

Lakeland Dairies to open share register next month

Meanwhile, the Board of Lakeland Dairies has decided to open the share register for two months from December 1, 2015 to January 31, 2015.

It says this will give Lakeland milk suppliers who are not shareholders an opportunity to become shareholders of the co-operative.

Also, it says existing milk supplier shareholders will have an opportunity to share up to the required formula if they so wish.

Lakeland told its suppliers this month that the agreed formula that decides the number of shares each supplier can apply for is based on farmers 2014 calendar year supply.

For new entrants in 2014 or 2015, the formula will be based on an agreed 12-month supply estimate.

Lakeland has said that each share is 5c and those interested must be a Lakeland milk supplier and have signed the Lakeland milk supplier agreement to become a shareholder.

Lakeland Dairies milk volumes have increased by 10% year-on-year, according to the dairy co-op’s Chief Executive Michael Hanley.

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