This week, Glanbia announced that it is cutting April milk price by 1c/l. This is effectively a €50 drop in milk revenue per cow if it remains for 2020. This follows a 2c/l cut in March milk price and brings the Glanbia price to 27c/l excluding VAT at 3.3% protein and 3.6% fat.
Part of this milk price is the 0.42c/l payment from Glanbia co-op on all milk supplied in April as its “share of GI profit”. Should both the March and April milk price cuts remain for the full year 2020, it will cut €150 per cow from milk revenue. Lakeland Dairies also cut its milk price by 1c/l to bring April price to 27.5 c/l excluding VAT at 3.3% protein and 3.6% fat.
EU figures show so far Ireland has placed 5,665t of butter and 2,180 t of cheese into private storage. That’s the cheese quota full
In the coming days, more of the co-op boards will meet to set April milk price. Dairy product prices have settled and even improved while sentiment has also improved.
Butter and cheese have seen price lifts and powder prices have stabilised. With European and Asian economies coming out of lockdown, European spot prices have started to rise.
Cheddar prices have settled at €2,800/t and mozzarella prices have actually improved by €100/t to €2,400/t. Last week, the GDT results stabilised following previous auctions. Closer to home, the Ornua PPI index fell for April to 99.8c/l. This provides a price of 28c/l excluding VAT.
EU figures show so far Ireland has placed 5,665t of butter and 2,180 t of cheese into private storage. That’s the cheese quota full.
IFA national dairy chair Tom Phelan said that co-ops needed to recognise they had overdone the price cut in March and farmers should not be liable for taking the full financial brunt of COVID-19.
Ger Quain, chair of the ICMSA dairy committee, said ICMSA’s position was that ordinary milk suppliers were categorically not in a position to take the full impact of the hit and it was therefore up to their co-ops to shield them as much as was possible.
Read more
Ornua PPI drops for April
Follow the milk money trail: how farmers get paid for their work
COVID-19 crisis: a major threat to dairy and beef incomes
This week, Glanbia announced that it is cutting April milk price by 1c/l. This is effectively a €50 drop in milk revenue per cow if it remains for 2020. This follows a 2c/l cut in March milk price and brings the Glanbia price to 27c/l excluding VAT at 3.3% protein and 3.6% fat.
Part of this milk price is the 0.42c/l payment from Glanbia co-op on all milk supplied in April as its “share of GI profit”. Should both the March and April milk price cuts remain for the full year 2020, it will cut €150 per cow from milk revenue. Lakeland Dairies also cut its milk price by 1c/l to bring April price to 27.5 c/l excluding VAT at 3.3% protein and 3.6% fat.
EU figures show so far Ireland has placed 5,665t of butter and 2,180 t of cheese into private storage. That’s the cheese quota full
In the coming days, more of the co-op boards will meet to set April milk price. Dairy product prices have settled and even improved while sentiment has also improved.
Butter and cheese have seen price lifts and powder prices have stabilised. With European and Asian economies coming out of lockdown, European spot prices have started to rise.
Cheddar prices have settled at €2,800/t and mozzarella prices have actually improved by €100/t to €2,400/t. Last week, the GDT results stabilised following previous auctions. Closer to home, the Ornua PPI index fell for April to 99.8c/l. This provides a price of 28c/l excluding VAT.
EU figures show so far Ireland has placed 5,665t of butter and 2,180 t of cheese into private storage. That’s the cheese quota full.
IFA national dairy chair Tom Phelan said that co-ops needed to recognise they had overdone the price cut in March and farmers should not be liable for taking the full financial brunt of COVID-19.
Ger Quain, chair of the ICMSA dairy committee, said ICMSA’s position was that ordinary milk suppliers were categorically not in a position to take the full impact of the hit and it was therefore up to their co-ops to shield them as much as was possible.
Read more
Ornua PPI drops for April
Follow the milk money trail: how farmers get paid for their work
COVID-19 crisis: a major threat to dairy and beef incomes
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