LacPatrick increases its June milk price for suppliers

LacPatrick Dairies has revealed its milk price for June supplies, following a meeting of the board today (Wednesday, July 18).

Suppliers in the Republic of Ireland will receive a base price of 31c/L including VAT for milk supplied in June. This is an increase of 0.75c/l on May supplies.

Meanwhile, suppliers in Northern Ireland will receive a base price of 26.5p/L including VAT for milk supplied in June following a 0.5p/L top-up.

June prices elsewhere

Earlier today, Aurivo revealed that its board has agreed to hold its base milk price at 30.5c/L including VAT for June manufacturing milk.

This follows an increase of 0.5c/L in May.

However, a weather bonus of 0.5c/L will also be paid in recognition of difficult weather conditions experienced by farmers in recent weeks – bringing the total milk price for members up to 31c/L including VAT.

Meanwhile, yesterday (Tuesday, July 17) Arrabawn announced an increase to its June milk price for its suppliers this month.

The Tipperary-headquartered co-operative increased its price to 32.05c/L including VAT for June milk; up 1c/L from its May price.

Yesterday also saw Dairygold’s board decide to maintain the base price paid for milk supplied in June at 32c/L inclusive of a 0.5c/L quality bonus and VAT, based on standard constituents of 3.3% protein and 3.6% butterfat.

GDT takes further dip

The most recent Global Dairy Trade (GDT) auction concluded yesterday (Tuesday, July 17), with the GDT Price Index down a further 1.7%.

This follows a nosedive at the last event two weeks ago, which saw the index take a 5.0% drop.

Lasting two hours and five minutes, the auction saw 168 bidders compete across 15 rounds, with 126 winning participants.

A total of 25,454MT was sold on the day.

Rennet Casein saw the most significant shift on the day, sustaining a 9.5% decrease, while Butter also took a hefty 8.1% hit.

Anhydrous Milk Fat (AMF) got stung with a considerable 5.2% drop. Product index increases were minimal on the day, with Whole Milk Powder (WMP) up 1.5% and Skim Milk Powder up 0.8%.

Lactose (LAC) was not available on the day, while Sweet Whey Powder (SWP) was also unattainable.