Glanbia and Lakeland Dairies have each confirmed their June milk price.
Glanbia will pay its member milk suppliers 30.5 cent per litre (cpl) including VAT for June manufacturing milk supplies at 3.6% butterfat and 3.3% protein. This is unchanged from the May price. Glanbia Ireland (GI) will pay a base milk price for June of 30 cpl 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 0.5 cpl including VAT for June milk supplies. The Glanbia Ireland and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.The actual average price paid by Glanbia for June manufacturing milk based on actual constituents, will be 33.5 cpl (including Co-op support payment). Commenting, Glanbia Chairman Martin Keane said: “Glanbia Ireland has maintained its base price of 30cpl 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”.
Meanwhile, the Board of Lakeland Dairies met this week and 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, 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.”