Glanbia has become the latest processor to announce its July milk price for its suppliers, announcing an unchanged price for last month’s milk.
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 chairman Martin Keane said: “At a time of significant challenge on our farms, milk price stability is welcome. However, there continues to be volatility in market returns for some products. The board will continue to monitor developments on a monthly basis.”
Further processors are to announce their July milk price in the coming days.
Kerry increases base price
Last week Kerry Group announced its price for July supplies; according to the processor, its base price for July milk supplies is up by 1c/L to 32c/L including VAT.
Commenting on Thursday (August 9) at the group’s interim management report presentation for the first half of 2018, Kerry Group CEO Edmond Scanlon said: “I’m probably feeling more optimistic today than I was in February when we were chatting last.
I think a milk price in the thirties is a good place for us to be. There seems to be a bit of stability there at the moment; there seems to be a balance there between supply and demand.
“Generally speaking, we would be fairly optimistic that the milk price would hold up.”