Dairygold has confirmed its price for July milk supplies, reducing it by 2c per litre.
Its quoted price is 36c per litre, 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 July farm gate milk price of 40.3c per litre, based on average July milk solids achieved by Dairygold suppliers.
The quoted milk price for July based on EU standard constituents of 3.4% protein and 4.2% butterfat is 39.3c per litre.
A company spokesperson commented that global milk markets “continue to weaken due to pressure on demand in key markets, with no sign of near-term correction”.
“The Dairygold board will continue to closely monitor markets and review milk price on a month-by-month basis,” the spokesperson added.
Kerry Group this week also confirmed its price for July milk supplies of 37c per litre, Vat included at 3.3% protein and 3.6% butterfat.
The July figure consists of a base price of 34c per litre, and a milk contract payment of 3c per litre on all qualifying milk volumes in the month.
Kerry’s July milk price at EU standard constituents of 3.4% protein and 4.2% butterfat is 40.61c per litre.
Based on Kerry’s average milk solids for July, the milk price return inclusive of Vat and bonuses is 40.19c per litre.
Lakeland Dairies was the first processor to announce its price for July milk, with the board deciding “on a price which represents market conditions”, of 35.5c per litre in the Republic of Ireland.
This represents a reduction of 1.85c per litre on the June price.
In Northern Ireland, a base price of 28.5p per litre will be paid for milk supplied in July.
This represents a reduction of 1.5p per litre on the June price.
