Weaker markets will cushion milk price cut by Glanbia in short term

A milk price cut by Glanbia will leave farmers unaffected in the short term, the Irish Farmers Association Dairy Committee chairman Seán O’Leary said yesterday.

He said that the 2c/l milk price cut announced by Glanbia yesterday was offset by an equivalent 2c/l from the GIIL Milk Price Stability Fund and would leave farmers’ pockets unaffected for their August milk supplies.

August milk production had been very strong, and an unchanged payment to farmers at a time of weaker markets would make an important cash flow contribution.