Dairygold has become the latest milk processor to set its price for supplies in July, deciding to increase its offering.
The business said this afternoon (Tuesday, August 16) that it has increased the July quoted milk price by 2c/L to 57.5c/L, based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of bonuses and VAT.
According to Dairygold, this milk price will equate to an average July farmgate milk price of 63c/L, based on average July milk solids achieved by Dairygold milk suppliers.
On standard EU constituents of 3.4% protein and 4.2% butterfat, the Dairygold price for July equates to 62.7c/L.
A spokesperson for the business said: “Dairy markets have been flat in recent weeks as significant inflation has started to affect demand.
“The society continues to recognise the significant increase in input costs to milk suppliers in the year and will continue to maximise the value of milk returns to address this challenge,” the spokesperson added.
“While markets remain firm, the Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis.”
Lakeland Dairies announced its price last week.
In the Republic of Ireland, the milk price has increased by 2.25c/L to pay 57.35c/L inclusive of VAT, for milk at 3.6% fat and 3.3% protein.
On average, the Lakeland Dairies’ pay out here will be 60.6c/L for July milk.
Also the Republic of Ireland, all farmers involved in fixed milk-price contracts will receive an 8c/L supplementary payment.
In Northern Ireland, Lakeland Dairies has increased its milk price by 2.0p/L to 46p/L.
This will see Lakeland Dairies pay out, on average, 47.42p/L for July milk including adjustments for constituents and quality, and volume bonusses and zero cartage charges.
In Northern Ireland, all fixed milk-price contracts will receive a 7p/L supplementary payment.