Glanbia has become the latest processor to announce its milk price for June supplies.
Announcing its milk price today, Thursday, July 11, the processor will pay its member milk suppliers 30.5c/L including VAT for June manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Glanbia Ireland (GI) will hold its base milk price for June of 30c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
The board of Glanbia Co-op has decided to make a support payment to members of 0.5c/L including VAT for June milk supplies.
Glanbia chairman Martin Keane said: “Glanbia Ireland has maintained its base price of 30c/L for the high volume month of June.
“However, milk suppliers should note that returns from the market are below the current farm gate price. The board will continue to monitor developments on a monthly basis.”
Lakeland June price
Yesterday, Lakeland Dairies became the first co-op to set a price for June milk.
In the Republic of Ireland, a price of 31.28c/L including VAT has been agreed for milk supplied in June.
The base price has been held for the last three successive months.
In Northern Ireland, a price of 25.25p/L will be paid for June supplies. Like in the Republic, the base price has been held for the last three successive months.
Commenting on the price, a spokesperson for the co-op said:
While supply in many of the large milk production regions remains subdued, there continues to be weakness in the global dairy markets. In particular, butter prices are under increasingly downward pressure.
“With butter prices at four-year lows, the co-op will continue to monitor the market closely.”