Lakeland and Glanbia hold December milk prices

Lakeland Dairies and Glanbia announced on Friday they will hold their price at 30.4c/l (excluding VAT) for December milk supplies.

This is for manufacturing milk at 3.6% fat and 3.3% protein.

Lakeland will pay an extra 5c/l December bonus to qualifying suppliers.

This is a 2c/l increase on the 3c/l paid for November supplies.

Glanbia’s price includes a 2c/l support payment. Non-members will be paid 28.46c/l, excluding VAT.

“The recent sale of skim milk powder out of intervention is welcome, as it has almost eliminated the stock overhang and improved market sentiment,” Glanbia chair Martin Keane has said.

Kerry Group held its base price for December milk supplies at 30.4c/l (excluding VAT).

SMP

At the first tender sale of skim milk powder (SMP) out of EU intervention last week, 80,000t of SMP stocks were cleared.

The SMP sold at a minimum price of €1,554.90/t. Only 22,200t of SMP remains in intervention.

Meanwhile, at the second Global Dairy Trade auction of 2018, overall dairy prices rose 4.2%. SMP was the main mover, with prices up 10.3%.