Glanbia and Lakeland hold milk price but warn of 'volatile' and 'uncertain' market
Glanbia and Lakeland Daries have held their milk price for December supplies while also issuing warnings to suppliers about pressures on the global dairy market.
Glanbia will pay its Member milk suppliers 32 cent per litre (cpl) including VAT for December manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
This is unchanged from the November price. Glanbia Ireland (GI) has maintained its base milk price for December at 30 cpl including VAT, for manufacturing milk at 3.6% fat and 3.3% protein.
In addition, Glanbia Co-op will make a support payment to Members of 2 cpl including VAT.
The Glanbia Ireland base price and the Glanbia Co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers.
Glanbia Chairman Martin Keane said: “The recent sale of Skim Milk Powder out of intervention is welcome as it has almost eliminated the stock overhang and improves market sentiment.
"However, Brexit and global trade tensions continue to create some uncertainly around market direction”.