Glanbia increases milk price for June

Glanbia has become the latest processor to announce its milk price today (Thursday, July 12).

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

Glanbia Ireland (GI) will increase its base milk price for June by 2c/L to 31c/L including VAT.

In addition, Glanbia Co-op will make a support payment to members of 1c/L including VAT, for June manufacturing milk.

The Glanbia Ireland base price and the co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.

Martin Keane, Glanbia chairman, said: “We are pleased to increase our milk price for the highest milk volume month of the year.

“This reflects increased returns, particularly for butter. However, market balance remains fragile – with the impact of trade wars and consumer resistance to higher retail prices being two issues that need to be monitored very closely in the coming months.”

Lakelands holds June price

Meanwhile, yesterday Lakeland Dairies became the first processor to lay its cards on the table – announcing that it has held its base milk price at 31.78c/L including VAT for June milk supplies.

The June milk price of 31.78c/L is the same base price that was paid in May, according to the processor.

“This is consistent with Lakeland Dairies’ commitment to pay our suppliers the highest possible milk price in line with market conditions, which remain challenging,” according to a Lakeland spokesperson.

“There has been a softening in skim markets – which have risen only gradually from a record low – and while butter returns are underpinning current prices, they have softened in the past month.”