Dairygold has become the latest processor to reveal its milk price for August supplies, moving to increase its price.
In a statement today (Friday, September 17), the southern cooperative announced that it has increased the August milk price by 0.5c/L.
This brings the August price to 36.25c/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 August farm gate milk price of 41.2c/L, based on average August milk solids, achieved by Dairygold suppliers, the co-op said.
The milk price for August based on EU standard constituents of 3.4% protein and 4.2% butterfat is 39.6c/L, it was added.
Commenting, a company spokesperson said:
“Global milk supply has eased over the past few months and the supply outlook to year end looks more modest.
“Combined with Covid-19 recovery continuing, dairy demand has picked up in recent weeks.
“As is customary, the Dairygold board will continue to monitor markets closely and review milk price on a month by month basis.”
Meanwhile, Northern Irish processor Strathroy Dairies has also increased its August milk price.
Lifting its price by 0.5c/L, the Tyrone-based processor will pay a base price of 35.75c/L including VAT.
Yesterday Kerry Group revealed its decision to hold its August milk price at 35c/L, excluding 0.5c/L in bonuses. The flat 1c/L top-up paid in July will not be paid in August.
Earlier this week, Glanbia announced that it will pay its member milk suppliers 35.6c/L (including VAT) for August creamery supplies, at 3.6% butterfat and 3.3% protein.
This figure is unchanged from last month’s announcement for July milk.
Farmers members will receive a 0.42c/L (including VAT) payment from Glanbia Co-op on all milk supplies this month as their ‘Share of GI Profit’.
Meanwhile, on Monday (September 13), the board of Lakeland Dairies increased the co-operative’s price for August.
In the Republic of Ireland, Lakeland Dairies confirmed a base price of 36.5c/L, including VAT, for milk at 3.6% fat and 3.3% protein – an increase of 0.5c/L.
In Northern Ireland, Lakeland increased its price for August by 0.3p/L to 29.5p/L.