Milk Price III

whelan2

Still no Glanbia milk statements on line. 19th of the month now...

Mortelaro

Fixture wrote: »

I think you’re wrong on that.
Raboank sold their ACC loan book. Most of that was built up before Milk quotas were abolished as ACC stopped lending in 2014. Most of the loans were probably given out back in the boom times.

They only sold the last of those this past month to a vulture fund
They have/had all the huge glanbia milk flex loans
I'm not sure whether they were sold or not as they may be under the corporate wing which is still here
So No Quite a lot of loans were given out to existing and new glanbia entrants for the aircraft hangers
Up to a third also was/is available to refinance existing loans
If you were an eager new entrant with a reasonable financial plan,you got it
You'd want nerves of steel I'd say

Gawddawggonnit

jaymla627 wrote: »

Front page of journal and a comment on this trend back a few pages re rabobank would be your answer, was wondering how in the name of Jesus some of the new entrant and established lads going up in multiples of 100’s of cows where financing all the merry go rounds and air-craft hanger size cubicle sheds

Could you flesh out a little please Jay?

jaymla627

Gawddawggonnit wrote: »

Could you flesh out a little please Jay?

Glanbia basically acted as a middleman to facilitate million euro plus loans on the basis most inputs are bought from themselves and of course you supply them your milk, unsecured I think as well as loan payments taken from milk cheque, within a 20 mile radius of here I would say easily 10 million odd plus was given out if you just joined the dots together where small fortunes where spent

Mortelaro

The loans were with Rabbobank
were they sold?
Even though they are paid through the milk cheques,theyd have to have had personal guarantees
what happens if theyre called in?
as I understand it,these vulture funds call them in after just one missed payment,is Glanbia itself going to cover them? I doubt it
Wasnt there an instrument created by Glanbia leveraging (our) shares a few years ago to fund the advanced payment scheme creating a lot more funding than needed,is that on standby?

Fixture

Mortelaro wrote: »

The loans were with Rabbobank
were they sold?
Even though they are paid through the milk cheques,theyd have to have had personal guarantees
what happens if theyre called in?
as I understand it,these vulture funds call them in after just one missed payment,is Glanbia itself going to cover them? I doubt it
Wasnt there an instrument created by Glanbia leveraging (our) shares a few years ago to fund the advanced payment scheme creating a lot more funding than needed,is that on standby?

Rabobank sold the old ACC loan book which was secured on land property etc

awaywithyou

https://www.milkbusiness.com/article/march-us-milk-production-falls-04?fbclid=IwAR0L7oRltciOpiZf3AEEjbszJP5sTg44l0ejxh7jtUc7M-3yBQJtOdHkI9s

Buford T. Justice XIX

Forward Price Scheme 5 Offer confirmed at 30.6 cpl @ 3.30 Prot/3.60 Bfat incl VAT. Online Application open at 2pm today Wed until 2pm tomorrow (25 Apr)

Not a very attractive price to be fixing at?

degetme

Buford T. Justice V wrote: »

Not a very attractive price to be fixing at?

Not bothering with it. I fixed at the 33c a litre 1 tho

Signpost

I fixed for 3 of the previous ones but would want to be significantly higher considering you loose out on any hardship bonus and other bonuses paid afterwards. Tie you in and then reward anyone who didnt sign up after. you live you learn

whelan2

Got a text from Ifa today of a meeting on Navan on Tuesday night about Glanbia milk price. Has there been other meetings held anywhere else.?I won't make it.

alps

Is there a new world order in terms of dairy product price. I guess when you put an extra 40% of product in the market place, you can't be too surprised at the outcome...

alps

Here's a little rule of thumb for you..from above..

47.51+21.43+32.75+36.61=138.3÷4=34.575
Convert 34.575 to €= 30.84c/l is what we should be getting..

Normally there or thereabouts...

Mortelaro

Please remember the plus vat money is from the government not the processor
Glanbia is only paying around 28c base for example not 30
What margin have they on the processed versus the farmer on the raw in cpl
Substantially more than the man and woman at farm gate level doing the lions share of the work,is that fair for a supposedly farmer majority owned entity?

jaymla627

Mortelaro wrote: »

Please remember the plus vat money is from the government not the processor
Glanbia is only paying around 28c base for example not 30
What margin have they on the processed versus the farmer on the raw in cpl
Substantially more than the man and woman at farm gate level doing the lions share of the work,is that fair for a supposedly farmer majority owned entity?

The Chinese whispers re them bringing in conditions re what is done with bull calves going forward could be the straw that breaks the camels back I reckon, lads are pissed of at the minute but imagen the anger if they suddenly make a serious issue over the above

alps

jaymla627 wrote: »

The Chinese whispers re them bringing in conditions re what is done with bull calves going forward could be the straw that breaks the camels back I reckon, lads are pissed of at the minute but imagen the anger if they suddenly make a serious issue over the above

If this is one of the reasons why they have pulled from the greenfield project, it is very wrong of them not to have come clean immediately on that reasoning. It is nonsensical that if they can't be seen to be involved in unmarketable calves, that it continues to buy from farmers that are.

If this is a condition that could form part of their future T&C's, it is monstrous not to let farmers know while they are still so early in the breeding season...

jaymla627

alps wrote: »

If this is one of the reasons why they have pulled from the greenfield project, it is very wrong of them not to have come clean immediately on that reasoning. It is nonsensical that if they can't be seen to be involved in unmarketable calves, that it continues to buy from farmers that are.

If this is a condition that could form part of their future T&C's, it is monstrous not to let farmers know while they are still so early in the breeding season...

It all needs to come to a head at the co-op agm at the end of the month, hopefully the proper questions are asked and answers given, and it doesn’t just become the usual pre-planned speech’s from a select few suppliers

older by the day

alps wrote: »

If this is one of the reasons why they have pulled from the greenfield project, it is very wrong of them not to have come clean immediately on that reasoning. It is nonsensical that if they can't be seen to be involved in unmarketable calves, that it continues to buy from farmers that are.

If this is a condition that could form part of their future T&C's, it is monstrous not to let farmers know while they are still so early in the breeding season...

Well sher everyone came back from new Zealand, promising the new way. I remember in 1998 a woman going around promoting "sacrifice paddocks", and wood chip stand offs. They were slow to talk about "bobby" calfs. Now they are selling Belgium blue, jersey crosses at the mart. No one wants to rear beef calves what do you think will happen

Buford T. Justice XIX

Buford T. Justice XIX

https://twitter.com/rko2milk/status/1126115265928998912?s=19

whelan2

Lake lands hold their milk price for April

whelan2

Glanbia base of 30cpl plus half a cent of our own money

Mooooo

whelan2 wrote: »

Glanbia base of 30cpl plus half a cent of our own money

Is that up or down or pretending to be the same?

whelan2

Mooooo wrote: »

Is that up or down or pretending to be the same?

It's the same as last month. 30 plus our own half cent

moneyheer

That's 28.5 + vat +
.5 cent of our own money. Feck sake

mahoney_j

The pr spin now will be the cuts are over and there holding price but markets are volatile ......European spot prices are up ,ornua index up
Snd 11 gdt price rises on the bounce .....

whelan2

mahoney_j wrote: »

The pr spin now will be the cuts are over and there holding price but markets are volatile ......European spot prices are up ,ornua index up
Snd 11 gdt price rises on the bounce .....

A neighbour said to me this evening, just be glad they didn't drop the price...

Mortelaro

How is See o Van's salary and bonuses in the millions and always rising when the company's share price, the view of the market has been in the doldrums for several years now
The majority of shareholders must be right eejits,they're not farmers by any chance?

Buford T. Justice XIX

https://twitter.com/rko2milk/status/1128307951805050880?s=19

Buford T. Justice XIX

A bit more on current market prices.
https://twitter.com/DINtoday/status/1128629833909645312?s=19