LacPatrick holds September milk price

LacPatrick has become the latest processor to reveal its milk price for September supplies.

The Monaghan-based processor has announced that, in the Republic of Ireland, suppliers will receive a price of 32c/L including VAT for manufacturing milk supplied in September.

This price is held from the August price.

In Northern Ireland, suppliers will receive a price of 27.5p/L for milk supplied in September. Again, this price is held from August.

This follows similar moves made by other processors with all previous companies holding their respective milk prices for the month of September.

Last week, Arrabawn announced that it will hold its milk price to be paid for September supplies.

Following a meeting of the board, it was agreed that the price will stay at 32.21c/L including VAT for Arrabawn suppliers.

Meanwhile, Aurivo revealed that it would be paying 32c/L including VAT to its suppliers – same as last month. Dairygold also decided to maintain the base price paid for milk supplied in September at 32c/L, including a 0.5c/L quality bonus and VAT.

Kerry, Glanbia and Lakeland Dairies, which have all held their September milk price, though Lakeland has offered a lactose bonus in addition to its held base price.

Fifth Consecutive Drop For GDT

Last Tuesday (October 16), the Global Dairy Trade (GDT) Price Index dropped for the fifth consecutive time, falling by 0.3% at the latest GDT auction – event 222.

Lasting for almost two hours and 20 minutes, there was a total of 137 winning bidders across 15 bidding rounds in the latest auction.

In the previous auction at the beginning of this month, the GDT Price Index decreased by 1.9%. Prior to that, the index has fallen since the auction on Tuesday, August 7 – when the index remained static.

One would have to go as far back as Tuesday, May 15, to see when the GDT Price Index last recorded an increase.