Glanbia holds its November milk price, while Carbery cuts its price

Glanbia is to hold the price it pays  member suppliers for November milk at 25c/L, including VAT.

Glanbia Ingredients Ireland (GII) has set a November market price of 24c/L, including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.

The Board of Glanbia Co-operative Society has decided to pay members who have signed a Milk Supply Agreement a bonus of 1c/L, including VAT, for November manufacturing and liquid milk supplies.

A statement from Glanbia Co-operative Society said that the co-op has made very significant support payments to members this year: March (1c/L); April (2c/L); May (3c/L); June (1c/L), July (1.5c/L), August (1c/L), September (1c/L) and October (1c/L).

Carbery co-op has cut its price for November milk by 1c/L, bringing its price for November milk supplies to 26.9c/L.

The co-op also cut its price in October for milk by 1c/L.

Lakeland Dairies has held its milk price for November at 26.25c/L.

It was the first co-op to set its milk price for November. This is the third consecutive month that Lakeland Dairies has held its milk price.

The Board of Lakeland Dairies recently 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.