Lakeland Dairies was the first co-op to set its June milk price this week, at 31.3c/l excluding VAT – a 1c/l increase on the previous month.

June marks peak production for farmers in the Lakeland milk pool.

With the combined increases in supply and price, the co-op said it would pay its suppliers €50m for June milk – its highest ever monthly payout.

PPI

Ornua’s purchase price index for June rose by 3% to 110, which is equivalent to a farmgate price of 31.4c/l excluding VAT.

As more co-ops prepare to set their June price, IFA dairy chair Sean O’Leary said that current market returns justified at least a 1c/l increase.

ICMSA dairy chair Gerald Quain said processors had held back price rises due in May and that now needed to be rectified by meaningful increases for June and July supplies.

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