Carbery has today (Tuesday, September 19), announced that it will reduce its base milk price for August by 2c/L.
The processor said it is continuing to support the milk price from its stability fund and is allocating 3c/L support for milk supplied last month.
If this decision is replicated across the four west Cork co-ops, Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price for August of 35.98c/L, inclusive of VAT and 0.5c/L Somatic Cell Count (SCC) bonus.
Milk price for August supplies
Earlier today, Arrabawn has confirmed a cut in its milk price for August, from a base price of 38c/L in July to 36c/L this month, including VAT.
This is based on 3.3% protein and 3.6% butterfat for August milk supplies.
Dairygold also reduced its milk price by 2.5c/L to 33.5c/L. The August milk price equates to an average farmgate price of 39.4c/L.
A company spokesperson commented that global milk markets continue to weaken due to pressure on demand in key markets, with no sign of near-term correction.
Last week, Tirlán confirmed that it will reduce the price it will pay for milk supplied in August by 2.5c/L on the July price.
The processor will pay a total of 33.08c/L, including VAT, for August creamery milk supplies at 3.6% butterfat and 3.3% protein.