Dairygold has today (Tuesday, July 18) become the latest processor to announce its price for June milk supplies.
The dairy processor has decided to reduce its quoted milk price by 2c/L to 38c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
In a statement, the company said that the June milk price equates to an average farmgate milk price of 40.9c/L, based on average milk solids achieved last month by Dairygold milk suppliers.
The quoted milk price for June based on EU standard constituents of 3.4% protein and 4.2% butterfat is 41.5c/L.
A Dairygold spokesperson stated that “global dairy markets have weakened significantly in the last month and this has reduced the returns on milk”.
“This reduction is driven by reduced demand across all product categories. The Dairygold board will continue to monitor markets closely and review milk price on a month by month basis,” they added.
Yesterday (Monday, July 17), Kerry Group confirmed that its milk price for June supplies would remain unchanged from the previous month at 37c/L.
The group confirmed the base price figure, based on constituents of 3.3% protein and 3.6% butterfat, including VAT.
Based on average Kerry milk supply solids for June, the average price return is expected to be 39.01c/L, including VAT and any bonuses.
Last Tuesday (July 11), the board of Lakeland Dairies warned that dairy markets remained “uncertain” over the past month, as it confirmed its price for milk supplied in June.
Lakeland will pay a price of 37.35c/L for milk at 3.6% butterfat and 3.3% protein in the Republic of Ireland.
This price is unchanged from the May price.
In Northern Ireland, Lakeland Dairies has also held the base price of milk for June at 30p/L.