Aurivo has become the latest processor to announce its milk price for May.
Following a meeting of the board of cooperative a decision was made to hold its milk price at 30.5c/L including VAT for the month of May.
Markets continue to be supply driven with modest demand growth evident, according to an Aurivo spokesperson.
Butter markets in particular are weaker as stocks replenish. The board will closely monitor market returns and pay the maximum return to members in line with prevailing market conditions, the representative concluded.
Lakeland holds May price
Meanwhile, yesterday, Lakeland Dairies announced that a price of 31.28c/L, including VAT, has been agreed for milk supplied in May. The base price has been held from April.
Commenting on the price, the co-op said: “There continues to be weakness in the European dairy markets driven by the persistently high volumes of product in stock, particularly in the UK. Official European butter prices have hit a four-year low in recent weeks.
“We will continue to closely monitor the market in order to extract the strongest prices for our farmers,” a cooperative spokesperson concluded.