Carbery Group has revealed its milk price for July supplies, announcing its decision to reduce its price in recent days.

As a result of weaker dairy markets, the board of Carbery Group has decided to reduce its milk price by 1c/L for July, which equates to a price of 31.4c/L including VAT (29.8c/L plus VAT), replicated across the four co-ops; Bandon, Barryroe, Lisavaird and Drinagh.

However, the board has also decided to pay 1c/L in support of its farmer shareholders from its stability fund, to effectively offset the reduction.

Members will therefore receive 32.46c/L including VAT (30.8c/L plus VAT) for July milk.

Carbery Group will continue to monitor the market going forward, a spokesperson for the group said.

Other processors

Last week, Dairygold announced its decision to cut its milk price for July; Dairygold’s base price for July milk supplies is 29.69c/L, including VAT and bonuses.

A spokesperson for the co-op has said: “The reduction of 1c/L on the June milk price comes as over the last number of months, dairy markets have been challenging and uncertain, with butter returns falling significantly, far outweighing the marginal increases in powder prices.

More recently, cheddar cheese returns have been negatively impacted, primarily due to the uncertainty over Brexit.

Meanwhile, Aurivo will pay a base price of 30.0c/L for July milk. A statement from the cooperative said the price is “based on the evolving market situation”.

This figure is 0.5c/L below the milk price paid for June supplies.

Both Kerry and Glanbia will pay their suppliers 29.5c/L for July, while Lakeland announced a price of 30.78c/L for last month’s milk.