Dairygold has announced that it has reduced its milk price for August supplies.

In a statement, a spokesperson for the southern cooperative confirmed that Dairygold’s base price for August milk supplies, based on standard constituents of 3.3% protein and 3.6% butterfat, is 28.69c/L including VAT and bonuses.

This is a reduction of 1c/L on the July milk price.

“Dairy markets continue to be challenging with recent butter returns principally being the significant influencing factor,” a spokesperson said.

“Regrettably, a downward milk price adjustment is necessary.

“The Dairygold board will continue to monitor market developments and remains focused with regard to maximising the commercial return and ensuring operational efficiency,” the spokesperson concluded.

Other processors

Meanwhile, Kerry Group has held its milk price for the month of August, a spokesperson for the southern processor confirmed earlier today.

The processor revealed that the Kerry Group base price for August milk supplies remains unchanged at 29.5c/L including VAT.

Based on average August milk solids, the price return inclusive of VAT and bonuses is 33.55c/L, the spokesperson added.

Last week, both Glanbia and Lakeland Dairies announced reduced August milk prices of 28.5c/L including VAT, and 30.03c/L including VAT respectively.

This is a reduction of 1c/L and 0.75c/L for Glanbia and Lakeland respectively.