Dairygold has today (Monday, September 18) become the latest processor to announce its milk price for August supplies.
The processor reduced its milk price by 2.5c/L to 33.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The August milk price equates to an average August farmgate milk price of 39.4c/L, based on average August milk solids achieved by the processor’s milk suppliers.
Based on EU standard constituents of 3.4% protein and 4.2% butterfat, the quoted milk price for August is 36.6c/L, the processor said.
Dairygold milk price
Global milk markets continue to weaken due to pressure on demand in key markets, with no sign of near-term correction, a company spokesperson commented.
“Dairygold remains focussed on paying the strongest milk price possible and has maintained this approach since the start of the year.
“The current market conditions are likely to keep milk price under pressure until the supply-demand imbalance is corrected.
“The Dairygold board will continue to closely monitor markets and review milk price on a month-by-month basis,” the spokesperson said.
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.