Dairygold delivers another price cut for July milk

Dairygold has confirmed the price it will pay for July milk supplies will be 34.28c/l, excluding VAT and at standard constituents of 3.3% protein and 3.6% butterfat.

The July price is almost 2c/l lower than the price the processor paid for June milk supplies, at 36.02c/l excluding VAT.

A Dairygold spokesperson said 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,” they added.

Competitors

Dairygold is the third major processor to announce its milk price for July.

On Wednesday, Kerry Group confirmed that its leading price commitment will see its milk price stay steady for July at 35c/l, excluding VAT and at base solids of 3.3% protein and 3.6% butterfat.

Elsewhere, Lakeland Dairies announced a base price for July milk at 33.81c/l excluding VAT, a drop of 1.85c/l on its June price.

“Global demand for dairy products remains sluggish. This weak demand is being met by resilient milk supplies in many of the larger production areas, resulting in a continued imbalance between supply and demand,” a spokesperson said.