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IFA National Dairy Committee Chairman Sean O’Leary has welcomed the announcement by Glanbia that, in addition to a 1c/l increase on August milk, they will pay a 1c/l bonus on all milk supplies produced in the January to June period.

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IFA National Dairy Committee Chairman Sean O’Leary has said that a quick look at the most up-to-date available indices of milk returns in Europe suggests that Irish milk prices have some catching up to do.

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Our round up shows a minimum 1c/l milk price increase is fully justified for Irish farmers this month, with the prospect of an equivalent minimum increase for next month.

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IFA National Dairy Committee Chairman Sean O’Leary said today’s GDT auction has again showed the continuing strength of butterfat prices, with butter up 3.8% and AMF 3.6%.

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Commenting on the fact that Arla Foods have increased their September milk price by a further 1c/kg to 38.3c/kg (around 34.6c/l at 3.3%/3.6%) on the back of an increasingly severe global shortage of butterfat, as well as strongly rising demand, IFA National Dairy Chairman Sean O’Leary said he would expect Irish co-ops to continue increasing milk prices for August and later supplies.

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