The second dairy processor to announce its milk price for August, Kerry Group, has held the price at 26c/litre, the same price it gave in July. Kerry Group paid its suppliers 26c/litre including VAT for July, which was, however, a reduction of 2c/litre on the price it paid in May and June.

The board of Lakeland Dairies was the first to announce its August milk price with a cut in its base milk price of 0.75c/litre. The farmgate price paid by Lakeland Dairies is now 26.25c/litre including VAT, down from 27c/litre in July.

The Global Dairy Trade Index for mid-September, which was up the last two auctions, is due to be announced later today.

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