Carbery Group has confirmed its price for milk supplied in the month of July, deciding on a price increase.
Carbery said that it has increased its base milk price for July by 1c/L.
If this decision is replicated across the four west Co. Cork co-ops of Bandon, Barryroe, Drinagh and Lisavaird, this will result in an average price of 44.83c/L inclusive of VAT, a 0.5c/L somatic cell count (SCC) bonus and the processor’s FutureProof sustainability bonus.
While the average price above includes VAT, the 1c/L increase, and the bonuses, are given without including VAT.
The average price for July compares to an average price for June milk of 43.8c/L (which also included VAT and bonuses).
A spokesperson for Carbery Group said: “While the strong performance of butter in dairy markets is encouraging, the Carbery portfolio is more cheese driven.
“Prices are improving, but more slowly than butter, as is typically the case with cheese,” the spokesperson added.
All of the largest processors have now confirmed their milk prices for July.
Most recently, the board of Aurivo yesterday (Tuesday, August 20) confirmed the milk price the processor will pay farmers for supplies delivered last month.
The milk processor announced that it has set a base milk price for July of 45.32c/L inclusive of standard bonuses and VAT.
This is an increase from 42.82c/L last month, including the future milk sustainability bonus of 0.524c/L.
Aurivo also has a 0.21c/L (excluding VAT) protein bonus available for every 0.05% protein achieved, above the co-op average protein percentage, in an individual month.
In other dairy news, the Global Dairy Trade (GDT) index saw a return to form this week, following the latest trading event yesterday.
The GDT index jumped by 5.5% yesterday, the third consecutive increase for the index, which now stands at 1,146, following very slight rises after the July 16 and August 6 auctions.
The index suffered a sharp drop of almost 7% following the auction on July 2.