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.