Milk Price III

Keepgrowing

whelan2 wrote: »

Enlighten me please.

Not being smart but I won’t, I’m not in the humour for the shyte storm that this discussion will create

whelan2

Keepgrowing wrote: »

Not being smart but I won’t, I’m not in the humour for the shyte storm that this discussion will create

This is my last post on the matter. What is wrong that Strathroy are paying 3cpl more than ireland biggest creamery? Was the idea to defer payments by 6 months, - especially in the hardest farming year in my memory - ever put to a vote? Sunbathing to be done..

Keepgrowing

whelan2 wrote: »

This is my last post on the matter. What is wrong that Strathroy are paying 3cpl more than ireland biggest creamery? Was the idea to defer payments by 6 months, - especially in the hardest farming year in my memory - ever put to a vote? Sunbathing to be done..

I couldn’t agree more with you, off to the beach myself.

atlantic mist

does coop not loose out on interest/share appreciation it could have earned if money banked/shares held: re gap scheme?

difference in milk price, id be putting it down to belview not producing finished product to a high enough standard for infant milk (from the horses mouth...our ceo) and worrying thing is they are on about further development with out getting the first drier right first

on other news : nigerian rep is flying were selling more out there since we sold our stake in nigerian company than glanbia every did before, just goes to show the lads are not the best of sellers

kowtow

At the next members / shareholders meeting somebody needs to clearly and insistently ask the following question

"Is the fact that Glanbia's price is consistently lower than other processors down to product mix and, in the short term, would the situation improve (relative to other processors) if Glanbia processed a somewhat smaller volume of milk than it does today"


Keep banging away with the straight question until you get a yes or no answer.

wats the craic

whelan2 wrote: »

You supply Strathroy ye?

sure do and my uncle supplies glanbia , his son thinks sun shines out of glanbia ass , but i think alot of the ag students in ucd are the same in thinking

whelan2

wats the craic wrote: »

sure do and my uncle supplies glanbia , his son thinks sun shines out of glanbia ass , but i think alot of the ag students in ucd are the same in thinking

I don't understand that mentality. 3cpl down at least and happy with it. Anyway each to their own. Fair play to you for jumping ship

Gman1987

kowtow wrote: »

At the next members / shareholders meeting somebody needs to clearly and insistently ask the following question

"Is the fact that Glanbia's price is consistently lower than other processors down to product mix and, in the short term, would the situation improve (relative to other processors) if Glanbia processed a somewhat smaller volume of milk than it does today"


Keep banging away with the straight question until you get a yes or no answer.

Something tells me that Glanbia did some **** sales deals and now the farmers are paying the price. The minimum price they should be paying is the Ornua PPI value.

Water John

Think it's that management are more concerned about share price. Raw material price is not an issue for them.

Coolfresian

wats the craic wrote: »

sure do and my uncle supplies glanbia , his son thinks sun shines out of glanbia ass , but i think alot of the ag students in ucd are the same in thinking

Graduated from ag in UCD recently enough. In fairness most students seemed to be thinking outside the box regards glanbia, teagasc advice etc.

Always liked to deal with the local supplier or processor here in all farm dealings. Glanbia has me questioning that big time. I would hope we'll get a top up for the 6 months of the year. Otherwise until a portion of suppliers hand in their notice it l be the same carry on. Is strathroy closed for new winter milk suppliers?

alps

Water John wrote: »

Think it's that management are more concerned about share price. Raw material price is not an issue for them.

Unfortunatly you won't find anywhere that a director has any responsibility towards the welfare or enrichment of any raw material supplier..

The following sections set out the primary responsibilities of companies, company directors and/or secretaries under the Companies Acts, under secondary legislation and related case law. Further information on the roles of companies, company directors and/or secretaries can be found in the ODCE Information Books which are available for download at the end of this page.

Companies’ Responsibilities
Companies’ principal duties are as follows:
To keep adequate accounting records (Section 281 Companies Act 2014);
To prepare annual financial statements (Sections 290 & 293 Companies Act 2014);
To have financial statements audited (Section 333 Companies Act 2014), (unless audit exemption is availed of);
To maintain certain registers and documents;
To file certain documents with the Registrar of Companies;
To hold general meetings of the company.
Company Directors’ Responsibilities
Company directors' responsibilities are wide and diverse. Their duties arise primarily from two sources: statute (Acts of the Oireachtas and other legislation e.g. EU Regulations) and common law.

A director on appointment consents to the role and signs a statement to the effect that "I acknowledge that, as a director, I have legal duties and obligations imposed by the Companies Act, other statutes and at common law". It is the duty of each director of a company to ensure that the Companies Act is complied with by the company.

Directors’ common law duties can be summarised into three principles:

Directors must exercise their powers in good faith and in the interests of the company as a whole.
Directors are not allowed to make an undisclosed profit from their position as directors and must account for any profit which they secretly derive from their position as a director.
Directors are obliged to carry out their functions with due care, skill and diligence.
Directors’ statutory duties are as follows:
Duties as a company officer under the Companies Acts;

Duty to keep adequate accounting records;
Duty to prepare annual financial statements;
Duty to have annual financial statements audited;
Duty to maintain certain registers and other documents;
Duty to file certain documents with the registrar of companies;
Duty of disclosure of certain personal information;
Duty to convene general meetings of the company;
Duties of directors of companies in liquidation and directors of insolvent companies

cute geoge

We all know that a company director main responsibility is to the company but you must remember it is the farmer who elects the director.If i was a glanbia milk producer ,i would be hell bent replacing all the current directors and surely ye could elect some new directors who are less biased towards the milk producers!!!!

kowtow

cute geoge wrote: »

We all know that a company director main responsibility is to the company but you must remember it is the farmer who elects the director.If i was a glanbia milk producer ,i would be hell bent replacing all the current directors and surely ye could elect some new directors who are less biased towards the milk producers!!!!

If we are talking about PLC directors then electing "bad" directors (biased in favour of the farmers) isn't going to make a dent. Duties are too clear, and they are to maximise profits for shareholders regardless of whether the shareholder is a butcher, baker, or candlestick maker (or farmer)...

A company director will happily rob you as a farmer to enrich you as a shareholder, because that is his clear duty.

In the case of a co-op director I would say things are very different, not at all certain that those duties under the companies acts would apply. Co-ops aren't supposed to function in the same way as Companies at all in this regard, they can have all kinds of purposes monetary and otherwise.

Water John

A Coop Director's responsibility is to maximise the interests of the farmer/shareholder. This must do this in a prudent and cautious manner. Not putting the viability of the Coop at risk would be first priority.
This is a long way from maximising share value. In essence the redeem value of Coop shares doesn't increase anyway.
The only way of achieving a value higher for shares than redeem value is to sell the Coop or convert to PLC.
This is not an interest a Coop Director should be pursuing. His/her focus is to grow the business.

Buford T. Justice XIX

GDT down 5%.

Practically everything down. Butter down 4%, skim down 4.6%, WMP down 7.3%

alps

Buford T. Justice V wrote: »

GDT down 5%.

Practically everything down. Butter down 4%, skim down 4.6%, WMP down 7.3%

And then England win on penalties.....

Buford T. Justice XIX

alps wrote: »

And then England win on penalties.....

This year keep getting better...

whelan2

alps wrote: »

And then England win on penalties.....

You'd think they won the whole competition the way they were going on.....

wats the craic

whelan2 wrote: »

You'd think they won the whole competition the way they were going on.....

imagine if they won jesus could not bare them :eek:

Keepgrowing

Kpmg milk league published in today’s Journal

yewtree

Keepgrowing wrote: »

Kpmg milk league published in today’s Journal

I had a look there Glanbia didn't look that bad. It's not my fight but their position in the milk league isn't reflected on social media anyway

blackdog1

Interestingly enough the producers with the highest percentage of winter milk paid the best prices. Obviously they are getting a better mix of products because they don't have a complete mountain of stuff coming in 2 months and the only way the big processors can handle it is to dry it and make cheap powder out of it.

Mooooo

It's gas the dairygold and glanbia have the highest average constituents and yet trail so far behind the west cork boys with price.

freedominacup

.

blue5000

whelan2 wrote: »

You'd think they won the whole competition the way they were going on.....

Not over yet for cull cow trade;)

tanko

blue5000 wrote: »

Not over yet for cull cow trade;)

Hmmmm, every time England win the price of beef drops 5c.

Water John

Mooo, it's to their suppliers credit that they have high solids. I know you know but just to put it out there. It's no credit to Glanbia or Dairygold. I don't understand one of the IFJ tables that compares the avg price paid by processor adjusted for the solids of the milk supplied by their suppliers.

freedominacup

Water John wrote: »

Mooo, it's to their suppliers credit that they have high solids. I know you know but just to put it out there. It's no credit to Glanbia or Dairygold. I don't understand one of the IFJ tables that compares the avg price paid by processor adjusted for the solids of the milk supplied by their suppliers.

It's a complicated formula, algorithm if you will, that takes into account ad spends, research grants, junkets, access to lucrative committee memberships controlled by certain processors which endeavours to make the tables reflect real, true position of these processors as opposed to the actual one portrayed by simple calculations.

alps

It also makes no sense to put such effort info a table of milk price relative to milks of different constituents..the result is of no use other than to show which farmers produce the milk with the highest solids.....

It's daft...

Finest

The audit simply shows how much each processor paid for its manufacturing milk pool . It also happens to show some other info as a consequence of this like solids . I've got to tip my hat to the cork and kilkenny farmers for their solids always being at the top . Funny thing that the same culprits are always at the bottom. The commentary on the last page is interesting and seems to suggest that carbery dg and glanbia are capable of paying a higher price whereas tipp , arrabawn and Aurivo don't seem to have as much scope.