Glanbia has announced that it will be holding its milk price for January, at 33.2c/l excl. VAT, at 3.6% butterfat and 3.3% protein.

The milk processor is the first out of the traps to announce their milk price for January.

“While there have been some welcome improvements in market sentiment in recent weeks, current market returns continue to significantly lag our farm gate milk price, ” Glanbia Ireland chairman Henry Corbally said.

“The Board will continue to monitor market developments on a monthly basis.”

Earlier this week Ornua published their purchase price index (PPI), which they held at 111 .3 for January, the same level observed in December.

This was based on processing costs of 6.3c/l, which is equivalent to a 31.9c/l milk price, excluding VAT.

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