Glanbia has become the latest processor to announce its milk price for the month of May; the processor held its base price, but reduced its support payment compared to the previous month.
Glanbia will pay its member milk suppliers 30c/L including VAT for May manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
This is a reduction of 1c/L on the April price of 31c/L.
In addition, Glanbia Co-op will make a support payment to members of 1c/L including VAT for May manufacturing milk at 3.6% fat and 3.3% protein; this is down from 2c/L in the previous month.
The Glanbia Ireland base price and the co-op support payment will be adjusted to reflect the actual constituents of milk delivered by suppliers, according to the processor.
Martin Keane, Glanbia chairman, said: “There has been a welcome recovery in dairy market sentiment, driven mainly by adverse weather impacts on EU and US milk supply. The board will continue to monitor developments on a monthly basis.”