Dairygold increases milk price for June supplies
The Dairygold board has increased the June Quoted Milk Price by 0.5c/L to 38c/L.
This is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of Sustainability and Quality payments and VAT.
According to the processor, the June milk price equates to an average farm gate milk price of 42.4c/L for the month, based on the average milk solids achieved by Dairygold milk suppliers.
The Quoted Milk Price for June, based on EU Standard constituents of 3.4% protein and 4.2% butterfat, is 41.7c/L, inclusive of VAT.
Commenting on the board’s decision, Dairygold chairperson Pat Clancy said: “Global dairy markets remain in a broadly similar position to last month, with supply continuing to outpace demand.
"Dairy stocks are high, particularly of butter, but there are some signs that the pace of milk supply growth is slowing and ongoing strong demand for protein has supported the market.
"Dairygold is acutely aware of the impact that the current global imbalance is having on milk prices and remains focused on paying the maximum milk price possible, based on market conditions, to support milk production during these challenging weather conditions."
The board chair also said he and the board will continue to monitor markets closely.
Also this week, Lakeland Dairies, Tirlán and Kinisla all announced their milk price for June supplies.
