Glanbia holds milk price
Glanbia has announced that its September manufacturing milk price would remain unchanged at 33.11c/l excluding VAT.
“In recent weeks prices for some products have weakened slightly and buyers continue to resist high butter prices in particular,” said Glanbia Ireland Chairman Henry Corbally.
“Meanwhile, on the supply side, it is clear that higher milk prices, relatively cheap feed and good weather is driving increased milk production across the EU and the US.”
This is the first major milk price announcement this month, following an increase of Ornua’s Purchase Price Index to a three-year high on Wednesday.
More co-ops are expected to set September prices in the coming days.
IFA dairy chairman Sean O'Leary has described Glanbia's September price as "disappointing" and called for other co-ops to apply rises of at least 1c/l.
At a time when our European fellow dairy farmers have received increased September milk prices and further uplifts have been announced for October milk, it is crucial that dairy co-ops in Ireland would not leave their suppliers at a disadvantage,” O’Leary said.