The slump in milk prices is set to continue into 2016, with little respite in sight for struggling farmers.

The slump in milk prices is set to continue into 2016, with little respite in sight for struggling farmers.

Drop in milk prices set to continue into next year - Glanbia boss

Glanbia managing director Siobhan Talbot said the milk market was still dealing with a glut of supply as demand falls.

"While it's very hard to be definitive, the general view is it will be into 2016 before we see sustained improvement again.

"Clearly you have supply and demand out of kilter. Demand is now softer. You are coming off what were very good years for the milk market.

"We remain confident that the cycle will turn and are confident in the Irish industry playing a strong role into the global market.

"But price volatility hasn't gone away and we are working to keep the supply chain sustainable at present," she said.

Milk prices have dropped by more than a quarter so far this year, just as Irish farmers dramatically increase their production. The sector has also been hit by a slowdown in China, which is seen as a key target for increased milk sales.

Ms Talbot's comments echo those of Kerry Group chief executive Stan McCarthy, who earlier this month warned that milk prices were reaching "very dangerous" levels.