Increased milk price announcements for February from the first two processors have been welcomed by the Irish Creamery Milk Suppliers’ Association (ICMSA) – and the organisation has outlined its expectations for further price lifts next month “in line” with market conditions.
Commenting, ICMSA Dairy Committee chairman Ger Quain welcomed the decision of Glanbia Ireland to increase its February base milk price by 2c/L to 32.68c/L.
“Including the monthly share of profit of 0.42c/L and the seasonality bonus of 3c/L, the maximum attainable price for Glanbia members now stands at 36.1c/L for February [manufacturing] milk, and brings Glanbia Ireland into line with the market returns and expectations,” he said.
Quain noted the decision of Lakeland Dairies to increase base by 1c/L to 33.34c/L while also holding the flat 1c/L payment, means that all suppliers will receive a payment of at least 34.34c/L based on the standard 3.3% protein and 3.6% butterfat.
ICMSA had asked all milk purchasers to pay at least 34c/L for February milk in line with dairy market data and on foot of the other good news about the decision on US tariffs.
“Glanbia and Lakelands are two of the biggest processors of milk in Ireland and it’s encouraging to see them step up in this way.
“We expect the base price to move up again next month in line with already visible data and – as the seasonal payments end in March – the base price will absolutely have to move up to cover that element of payment.
“We expect announcements by other processors over the next few days to follow the Glanbia and Lakelands move,” Quain concluded.