Dairygold has become the latest processor to set its milk price for the month of May – deciding to increase its price for last month’s supplies.

In a statement this afternoon (Thursday, June 17), a spokesperson for the southern cooperative said:

“Dairygold has increased its May quoted milk price by 0.75c/L to 35.75c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.

“This milk price equates to an average May farm gate milk price of 38.7c/L, based on average May milk solids, achieved by Dairygold milk suppliers,” the co-op representative added.

“The quoted milk price for May based on EU standard constituents of 3.4% protein and 4.2% butterfat is 39.1c/L.”

The company spokesperson commented:

“We have seen some price fluctuation in global dairy markets in recent weeks, but overall, dairy markets remain reasonably strong against a background of milk supply and market demand being in balance.

“As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month by month basis.”

Dairygold becomes the fourth processor to set its milk price for May, following on from Lakeland Dairies, Glanbia Ireland and Kerry Group, which have all increased their prices over the past seven days.

Further Irish processors are expected to announce their price offerings for May supplies over the coming days.