The Aurivo board has set the base milk price for October as 36.5c/L, a drop of 0.5c/L on September supplies.
According to Aurivo, the company will pay its milk suppliers 36.5c/L including VAT for October manufacturing milk supplies at 3.6% butterfat and 3.3% protein.
Explaining the reasoning behind the price drop, the north-west based firm said that markets have weakened considerably over the last few months and Aurivo remains cautious about market sentiment and will continue to monitor markets returns monthly.
This price drop marks a reversal in recent trends for Aurivo, following a 0.5c/L increase last month for September supplies, which in turn was preceded by 1c/L increases for both August and July milk.
Yesterday Arrabawn announced its decision to hold its milk price for October supplies at 37c/L including VAT.
Meanwhile, Dairygold also revealed its price yesterday, deciding to stick with the same price it gave for September supplies – 36c/L including a 0.5c/L quality bonus and VAT.
This is the second consecutive month that Dairygold has held its milk price, following its announcement in September of a 1.5c/L increase for August supplies. Prior to this, 1c/L increases were given for June and July supplies.
Kerry revealed that it was holding its milk price for a second consecutive month, offering its suppliers 36c/L including VAT for October milk.
Meanwhile, on Monday Glanbia Ireland decided to hold its milk price for the tenth month of this year at 35c/L – VAT inclusive – for manufacturing milk supplies at 3.6% butterfat and 3.3% protein. The processor also held its September milk price.
As well as this, Lakeland Dairies announced its decision to hold its base price for October milk. Its suppliers will receive a base price of 36.5c/L including VAT.