Tirlán has today (Friday, August 16) confirmed an increase in the price it will pay for July supplies.
The Kilkenny headquartered processor will pay total of 44.83c/L, including VAT, for July creamery milk supplies at 3.6% butterfat and 3.3% protein.
This represents an increase of 1.75c/L on the June payment.
The July milk price includes a:
- Base milk price of 44.33c/L – including VAT;
- Sustainability Action Payment of 0.5c/L – including VAT – to all qualifying suppliers.
The processor has also detailed that the base price and sustainability action payment “will be adjusted” to reflect the actual constituents of milk delivered by suppliers.
Tirlán has stated that the average price paid by the co-op for July creamery milk, based on delivered constituents, will be 49.66c/L, including VAT.
Tirlán
According to the chair of Tirlán, John Murphy butter and cream prices have “recorded a notable increase in recent weeks due to tight supply”.
“Milk constituent levels have struggled in Europe due to weather and feed issues, which has reduced butterfat availability.
“Global milk supply is forecast to increase in the coming months but overall supply is likely to be similar to the previous year, or only marginally higher,” he added.
Murphy also outlined that the main driver of “market dynamics” in the coming months is likely to be the seasonal ramp-up of production in the southern hemisphere.
“The board will continue to monitor the dairy market on a monthly basis,” he added.
Milk price
Separately the Dairygold board also announced today that it has increased its July quoted milk price by 2.0c/L to 44.5c/L.
The price is based on standard constituents of 3.3% protein and 3.6% butterfat, inclusive of sustainability and quality bonuses and VAT.
The July milk price equates to an average farm gate milk price of 49.8c/L, based on the average July 2024 milk solids, achieved by Dairygold milk suppliers.