Milk Price- Please read Mod note in post #1

Greengrass1 · 17-03-2015 03:44PM

Yikes !!

Milked out · 17-03-2015 04:27PM

Greengrass1 wrote: »

Yikes !!

I wonder did the threat that environmental crowd made to contaminate fonterra product effect it any bit?

einn32 · 17-03-2015 08:02PM

Milked out wrote: »

I wonder did the threat that environmental crowd made to contaminate fonterra product effect it any bit?

http://www.stuff.co.nz/business/farming/dairy/67430245/fonterras-globaldairytrade-auction-prices-fall

Seems to be somewhat down to extra whole milk powder available.

Deepsouthwest · 18-03-2015 08:52AM

Greengrass1 wrote: »

Yikes !!

That's a major drop, certainly didn't see it coming, I thought we'd turned the corner, maybe not

frazzledhome · 18-03-2015 09:22AM

http://www.agriland.ie/farming-news/glanbia-proposes-share-spin-out-worth-e238m-to-members/

freedominacup · 18-03-2015 09:35AM

frazzledhome wrote: »

http://www.agriland.ie/farming-news/glanbia-proposes-share-spin-out-worth-e238m-to-members/

It was only ever a case of when.

Blackgrass · 18-03-2015 09:47AM

freedominacup wrote: »

It was only ever a case of when.

Synopsis for the stupid?
Plc wants Co-op to sell up and remove monies/control?/focus from members to 'big business'.?

Cow Porter · 18-03-2015 11:04AM

frazzledhome wrote: »

http://www.agriland.ie/farming-news/glanbia-proposes-share-spin-out-worth-e238m-to-members/

on sean o rourke radio one now

WheatenBriar · 18-03-2015 11:06AM

Deepsouthwest wrote: »

That's a major drop, certainly didn't see it coming, I thought we'd turned the corner, maybe not

Aye but isn't it way more than off set by the fall in the Euro of circa 25%?

WheatenBriar · 18-03-2015 11:13AM

Blackgrass wrote: »

Synopsis for the stupid?
Plc wants Co-op to sell up and remove monies/control?/focus from members to 'big business'.?

Since when did Co op control of the plc ever benefit the farmer?
At this stage we should be lobbying for more control of GII,not the PLC whilst retaining at least 30% of the plc as an income stream for the Co-op
Owning through a third party more than that of a plc that can only grow and secure funding by acting commercially(and not as a farmer benefactor) makes no sense economically to me anymore

Blackgrass · 18-03-2015 11:20AM

WheatenBriar wrote: »

Since when did Co op control of the plc ever benefit the farmer?
At this stage we should be lobbying for more control of GII,not the PLC whilst retaining at least 30% of the plc as an income stream for the Co-op
Owning through a third party more than that of a plc that can only grow and secure funding by acting commercially(and not as a farmer benefactor) makes no sense economically to me anymore

Kind of why i asked for a synopsis for the stupid

:pac: ie.. ME!
Summrise for someone who hasn't a clue essentially.
What i gathered was old co=op structure was got rid to set up GII so non sociey members(big buisness) could invest now they want to dilute 'farmers' control further?

WheatenBriar · 18-03-2015 11:55AM

Aye plc function -max profits/dividend for shareholders (not just farmers)
GII function if it is a co-op- max returns for its members who would want to be 100% glanbia co-op preferably
It's role then is max returns for the farmer and not the plc

It's not rocket science
The hold onto as much plc as possible focus is putting sentiment over profit
Now that's the stupid thing at this stage

freedominacup · 18-03-2015 12:46PM

WheatenBriar wrote: »

Aye plc function -max profits/dividend for shareholders (not just farmers)
GII function if it is a co-op- max returns for its members who would want to be 100% glanbia co-op preferably
It's role then is max returns for the farmer and not the plc

It's not rocket science
The hold onto as much plc as possible focus is putting sentiment over profit
Now that's the stupid thing at this stage

GII not a co-op. Private company. We should either block this completely or reduce our shareholding to 20% and take our cash off the table. Selling 18% would yield just over a billion or 200k to the average co-op shareholder. That would finance a lot of expansion plans.

kowtow · 18-03-2015 12:52PM

freedominacup wrote: »

GII not a co-op. Private company. We should either block this completely or reduce our shareholding to 20% and take our cash off the table. Selling 18% would yield just over a billion or 200k to the average co-op shareholder. That would finance a lot of expansion plans.

What are the terms of the purchasing agreement between PLC & co-op (as was)... is the farming side under any special obligation to supply to the PLC other than at arms length? and vice versa (is the PLC obliged to take co-op milk as opposed to others..?

I also wonder why or where the magical 20% figure comes from. It may be that by reducing below 25 % the farmers lose the right to block a resolution at an EGM (as opposed to an AGM) and that the PLC would prefer it that way.. but would have to look at the original deal more closely.

Greengrass1 · 18-03-2015 01:26PM

freedominacup wrote: »

GII not a co-op. Private company. We should either block this completely or reduce our shareholding to 20% and take our cash off the table. Selling 18% would yield just over a billion or 200k to the average co-op shareholder. That would finance a lot of expansion plans.

Would finance the tax man well too

WheatenBriar · 18-03-2015 01:57PM

GII is 60% co op
100% is the target
Milk business owned and contrled by the members

frazzledhome · 18-03-2015 02:47PM

Look on the bright side. Local tractor dealers can look forward to a windfall:(:(

freedominacup · 18-03-2015 03:12PM

WheatenBriar wrote: »

GII is 60% co op
100% is the target
Milk business owned and contrled by the members

GII is zero percent co-op. 100% private company. It's not that long ago that glanbia co-op had more or less sixty percent ownership of another company but because of far too much democracy and the subsequent continuous election of candidates based on popularity and geography that ownership never translated into control. If we are going to approve this it needs to be preceeded by a complete overhaul of how we appoint co-op and company board members.

One thing that definitely needs to happen is the removal of all glanbia plc executives from the board of glanbia co-op. The second thing is a pre qualification test for prospective board members where in order to be considered for a board election any candidate needs to have physical and financial performance figures in the top one percent in the country on their own farm. If you can't measure up to the best in your own business how do you expect me to appoint you to run my co-op. Btw I'm definitely excluding myself with those criteria from ever being considered.

Waterford co-op and Avonmore co-ops had 75%+ ownership of the companies they floated at one point. Every time there was a crisis due to mismanagement (more or less every second year at one point) the go to solution was that we would dilute our shareholding to fund the cleanup. We had never seen a penny until last year to reflect the investment we and those before us made in the company. I think we should pay ourselves now. 20% or 38% is irrelevant. The fiduciary duties line will be adhered to the next time there's a crisis and we'll get a pittance for our shareholding and all the upside will end up in the bank accounts of some vulture fund.

Brown Podzol · 18-03-2015 03:50PM

freedominacup wrote: »

GII is zero percent co-op. 100% private company. It's not that long ago that glanbia co-op had more or less sixty percent ownership of another company but because of far too much democracy and the subsequent continuous election of candidates based on popularity and geography that ownership never translated into control. If we are going to approve this it needs to be preceeded by a complete overhaul of how we appoint co-op and company board members.

One thing that definitely needs to happen is the removal of all glanbia plc executives from the board of glanbia co-op. The second thing is a pre qualification test for prospective board members where in order to be considered for a board election any candidate needs to have physical and financial performance figures in the top one percent in the country on their own farm. If you can't measure up to the best in your own business how do you expect me to appoint you to run my co-op. Btw I'm definitely excluding myself with those criteria from ever being considered.

Waterford co-op and Avonmore co-ops had 75%+ ownership of the companies they floated at one point. Every time there was a crisis due to mismanagement (more or less every second year at one point) the go to solution was that we would dilute our shareholding to fund the cleanup. We had never seen a penny until last year to reflect the investment we and those before us made in the company. I think we should pay ourselves now. 20% or 38% is irrelevant. The fiduciary duties line will be adhered to the next time there's a crisis and we'll get a pittance for our shareholding and all the upside will end up in the bank accounts of some vulture fund.

Agree with you 100%. You only have to look at your neighbours Dairygold. No qualifications to get on representative structure only that you purchase 80% of your inputs from society. Any crackpot scheme seems to be able to be passed by such representation. Pissed away half a billion wealth accumulated over generations.

WheatenBriar · 18-03-2015 06:51PM

freedominacup wrote: »

GII is zero percent co-op. 100% private company. It's not that long ago that glanbia co-op had more or less sixty percent ownership of another company but because of far too much democracy and the subsequent continuous election of candidates based on popularity and geography that ownership never translated into control. If we are going to approve this it needs to be preceeded by a complete overhaul of how we appoint co-op and company board members.

Firstly, GII is 60% owned by the Co-op Fact
The Plc wants out of low margin milk Fact

So bringing up what used be higher control of the PLC by the Co-op is moot
As for your point for board members, not a chance ,agreement on that amongst members would be difficult

One thing that definitely needs to happen is the removal of all glanbia plc executives from the board of glanbia co-op. The second thing is a pre qualification test for prospective board members where in order to be considered for a board election any candidate needs to have physical and financial performance figures in the top one percent in the country on their own farm. If you can't measure up to the best in your own business how do you expect me to appoint you to run my co-op. Btw I'm definitely excluding myself with those criteria from ever being considered.

nice idea,but no one wants to be on a board unless they're paid handsomely
The PLC will have more and more competent board members but ,the Co-op? Not likely, unless they're paid a lot

Waterford co-op and Avonmore co-ops had 75%+ ownership of the companies they floated at one point. Every time there was a crisis due to mismanagement (more or less every second year at one point) the go to solution was that we would dilute our shareholding to fund the cleanup. We had never seen a penny until last year to reflect the investment we and those before us made in the company. I think we should pay ourselves now. 20% or 38% is irrelevant. The fiduciary duties line will be adhered to the next time there's a crisis and we'll get a pittance for our shareholding and all the upside will end up in the bank accounts of some vulture fund.

I'm with you on payment but not if it means GII is all that's left to fund the Co-op
It's not going to happen in one big bang though, we'll all be old and grey
Oh wait...

freedominacup · 18-03-2015 08:27PM

WheatenBriar wrote: »

Firstly, GII is 60% owned by the Co-op Fact
The Plc wants out of low margin milk Fact

So bringing up what used be higher control of the PLC by the Co-op is moot
As for your point for board members, not a chance ,agreement on that amongst members would be difficult nice idea,but no one wants to be on a board unless they're paid handsomely
The PLC will have more and more competent board members but ,the Co-op? Not likely, unless they're paid a lot

I'm with you on payment but not if it means GII is all that's left to fund the Co-op
It's not going to happen in one big bang though, we'll all be old and grey
Oh wait...

I don't dispute the ownership of GII at all but it is not a co-op. Your relationship with GII as a shareholder, supplier or customer is totally different to the relationship you would have with a co-op. If push comes to shove the fiduciary duties line will be used again and tough decisions will come down on the side of shareholders not suppliers.

I'm fully in favour of farmer board members being handsomely reimbursed for their work as board members provided 99% of shsreholders aren't eligible for election to the board. That should give us a better chance of having competent people representing us.

At this stage glanbia co-op is an investment vehicle that is totally exposed to one plc. That's bad practice. If you are not in favour of spinning our shareholding out to members there's still a strong argument for selling a good chunk of our shareholding and investing the proceeds in a few more companies. Ryanair has pretty much mirrored glanbias share price rise over the past twelve months. Certainly upto mid February. You won't find too many investment gurus advising you to hold only one share. Spread the investment around a bit if you are concerned about co-op funding going forward.

WheatenBriar · 18-03-2015 09:04PM

Well my point is,lobby for 100% ownership of GII,then we're back to basics with regards ownership and decisions on our milk
That's the headline we were sold on its creation, the goal
I get the feeling you'll still be drawing from the same board membership pool though because you're not going to get farmers paying highly for co-op directors just manager's

arctic8dave · 22-03-2015 10:06AM

Feb base 30 c/l. Got 28.581c/l
3.95f & 2.93p ffs not even enough to pay S/L:-)

frazzledhome · 22-03-2015 10:12AM

arctic8dave wrote: »

Feb base 30 c/l. Got 28.581c/l
3.95f & 2.93p ffs not even enough to pay S/L:-)

What coop? Is base inc vat?

arctic8dave · 22-03-2015 10:17AM

frazzledhome wrote: »

What coop? Is base inc vat?

DG includes vat

arctic8dave · 22-03-2015 10:18AM

frazzledhome wrote: »

What coop? Is base inc vat?

DG includes vat

mahoney_j · 22-03-2015 10:20AM

arctic8dave wrote: »

Feb base 30 c/l. Got 28.581c/l
3.95f & 2.93p ffs not even enough to pay S/L:-)

Jaysus feb base here 32.086 ,actual milk price 39.346 c/ltr .4.74 fat 3.71 p.sone grass in diet every day since calving is a huge help and wholecrop is boosting fat which was 0.36 higher than feb 14 fat.

kevthegaff · 22-03-2015 10:24AM

mahoney_j wrote: »

Jaysus feb base here 32.086 ,actual milk price 39.346 c/ltr .4.74 fat 3.71 p.sone grass in diet every day since calving is a huge help and wholecrop is boosting fat which was 0.36 higher than feb 14 fat.

I got 36.75, alot are staying here now!

whelan2 · 22-03-2015 10:51AM

38.8cpl here included a scc penalty:mad: sorted now though

stanflt · 22-03-2015 01:25PM

41.03 cpl for feb- no milk supplied without contract

I did notice that I got only 7 cpl bonus for liquid instead of 7.66 cpl

Milk Price- Please read Mod note in post #1

Comments