Glanbia has announced its milk price for supplies in the month of August, becoming the second processor to do so.
The processor has said that it will pay its member milk suppliers 35.6c/L (including VAT) for August creamery supplies, at 3.6% butterfat and 3.3% protein.
This figure is unchanged from last month’s announcement for July milk.
According to the processor, Glanbia Ireland (GI) will pay a base milk price for August of 35.18c/L (including VAT) for creamery milk at 3.6% butterfat and 3.3% protein. This is unchanged from the July price.
Farmers members will receive a 0.42c/L (including VAT) payment from Glanbia Co-op on all milk supplies this month as their ‘Share of GI Profit’.
The Glanbia Ireland base price and co-op share of profit payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
The Glanbia milk price for August creamery milk based on LTO constituents of 4.2% butterfat and 3.4% protein translates as 38.73c/L.
John Murphy, Glanbia Ireland chairperson, commented: “The return of buyers after a quieter than normal holiday period has brought stability to the market. The board will continue to monitor developments on a monthly basis.”
Glanbia becomes the second processor to confirm its August milk price, after Lakeland announced its price earlier today (Monday, September 13).
The board of Lakeland increased the co-operative’s milk price for August. In the Republic of Ireland, Lakeland Dairies confirmed a base milk price of 36.5c/L, including VAT, for milk at 3.6% fat and 3.3% protein – an increase of 0.5c/L.
In Northern Ireland, Lakeland increased its milk price for August by 0.3p/L to 29.5p/L.