All steady for August as Dairygold holds milk price

Following a meeting today (Monday, September 17), Dairygold board has decided to hold the base price paid for milk supplied in August.

This will see Dairygold suppliers paid at 32c/L including 0.5c/L a quality bonus and VAT, based on standard constituents of 3.3% protein and 3.6% butterfat.

Last Friday, Aurivo increased its milk price to 32c/L including VAT – up 0.5c/L on July’s price of 31.5c/L, Aurivo announced today (Friday, September 14).

Earlier the same day, Kerry announced its decision to hold its milk price.

The Kerry Group base milk price for August remains unchanged at 32c/L including VAT, a spokesperson for the company said.

Earlier in the week Glanbia Ireland (GI) increased its base milk price for August from 31c/L to 32c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein. There will be no support payment from Glanbia co-op this month, however.

Glanbia chairman Martin Keane said: “The market outlook remains cautious. The level of milk supply from the main exporting regions will be a key factor determining the price outlook over the coming months.

“The board will continue to monitor developments on a monthly basis.”

Meanwhile, Lakeland Dairies decided to hold its price for milk produced last month; it will pay its suppliers 32.78c/L including VAT for the second month in a row.

This follows on from Lakeland’s decision to increase its price by 1c/L for July milk.

While milk powder prices have improved, butter prices have weakened “significantly” in the past month, the processor outlined.