Glanbia holds its August milk price

Glanbia has decided to hold its milk price for August suppliers, the processor revealed today (Thursday, September 13).

Glanbia will pay its member milk suppliers 32c/L including VAT for August manufacturing milk supplies at 3.6% butterfat and 3.3% protein.

Glanbia Ireland (GI) has increased its base milk price for August from 31c/L to 32c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. There will be no support payment from Glanbia co-op this month, however.

Glanbia chairman Martin Keane said: “The market outlook remains cautious. The level of milk supply from the main exporting regions will be a key factor determining the price outlook over the coming months.

“The board will continue to monitor developments on a monthly basis.”

Lakeland price

Meanwhile, earlier this week Lakeland Dairies decided to hold its price for milk produced last month; it will pay its suppliers 32.78c/L including VAT for the second month in a row.

This follows on from Lakeland’s decision to increase its price by 1c/L for July milk.

While milk powder prices have improved, butter prices have weakened “significantly” in the past month, the processor outlined.

In a statement, it said: “Recognising the difficult conditions experienced by dairy farmers as a result of the extended period of very dry weather during the summer, last month Lakeland introduced a €20/t discount on every tonne of fertiliser bought by milk suppliers and shareholders in the Republic of Ireland – effective from August 1.

“This €20/t discount will continue to apply until the end of the fertiliser spread season,” the statement added.