Aurivo has become the first processor to lower its milk price for October supplies due to considerably weaker markets according to the co-op.
The north-west firm has revealed that it will pay its suppliers a price of 31c/L including VAT for October milk.
The average supplier will receive a price of 39.2c/L based on the average supply profile, according to an Aurivo representative.
Markets are considerably weaker and Aurivo will keep its returns and outlook under review, the spokesperson added.
Meanwhile, the Dairygold Board has today decided to maintain the base price paid for milk supplied in October.
Commenting on the milk price decision, co-op chairman John O’Gorman said:
“Dairygold has maintained its current milk price this month but we would caution that this price is not aligned to current market returns.
There has been significant growth in milk volumes due to favourable weather.
“However, market conditions have not improved in the past month with global dairy indices showing downward trends.”
Earlier this week, Lakeland Dairies, Glanbia and Kerry all decided to hold their respective milk prices for October supplies.
Lakeland Dairies announced that its suppliers will be paid 32.78c/L including VAT for their October milk supplies.
A lactose bonus of 0.28c/L will also apply for October milk, bringing the effective milk price to 33.06c/L including VAT.
Meanwhile, Glanbia revealed that it will pay its milk suppliers 32c/L including VAT for October manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Kerry announced a base price for October milk supplies remains unchanged at 32c/L including VAT.