Tirlán has cut its base milk price by 2.38c/l to 43.36c/l excluding VAT for the month of August.
A sustainability action payment of 0.47c/l excluding VAT will also be paid to all qualifying suppliers.
Tirlán chair John Murphy said: “The board recognises that many of our farmers will be disappointed by this month’s reduction in milk price. However, it is necessary to align our farmgate price with current market returns.
“The primary reason for this adjustment is the sudden and sharp decline over recent weeks in international market prices for key dairy products, particularly butter and cheese,” he said.
This downturn has been driven by a rebound in global milk supply, Murphy said.
“After a period of constraint, volumes and constituents began to recover in the second quarter of this year and have continued to rise.
"Increased production across major dairy-exporting regions has been supported by favourable weather conditions, a strong milk-to-feed price ratio and minimal impact from animal diseases.
“The board will continue to monitor market developments on a monthly basis,” he said.
Arrabawn and Aurivo
The board of Arrabawn Tipperary Co-op also moved to cut the price for August supplies.
The co-op board approved an August milk price of 44.61c/l excluding VAT plus a sustainability payment of 0.71c/l, excluding VAT.
The August price is a decrease on the 46.51c/l, excluding VAT, base price it paid for July milk.
Aurivo cut its base milk price by 1.5c/l to 45.33c/l, excluding VAT.
Dairygold, Kerry and Lakeland all reduced their August milk prices over the last week.
Read more
Dairygold to hold supplier meeting following milk price cut
Co-ops move to cut August milk prices
Butter prices nosedive as market sentiment falters
What the futures hold for dairy incomes
Tirlán has cut its base milk price by 2.38c/l to 43.36c/l excluding VAT for the month of August.
A sustainability action payment of 0.47c/l excluding VAT will also be paid to all qualifying suppliers.
Tirlán chair John Murphy said: “The board recognises that many of our farmers will be disappointed by this month’s reduction in milk price. However, it is necessary to align our farmgate price with current market returns.
“The primary reason for this adjustment is the sudden and sharp decline over recent weeks in international market prices for key dairy products, particularly butter and cheese,” he said.
This downturn has been driven by a rebound in global milk supply, Murphy said.
“After a period of constraint, volumes and constituents began to recover in the second quarter of this year and have continued to rise.
"Increased production across major dairy-exporting regions has been supported by favourable weather conditions, a strong milk-to-feed price ratio and minimal impact from animal diseases.
“The board will continue to monitor market developments on a monthly basis,” he said.
Arrabawn and Aurivo
The board of Arrabawn Tipperary Co-op also moved to cut the price for August supplies.
The co-op board approved an August milk price of 44.61c/l excluding VAT plus a sustainability payment of 0.71c/l, excluding VAT.
The August price is a decrease on the 46.51c/l, excluding VAT, base price it paid for July milk.
Aurivo cut its base milk price by 1.5c/l to 45.33c/l, excluding VAT.
Dairygold, Kerry and Lakeland all reduced their August milk prices over the last week.
Read more
Dairygold to hold supplier meeting following milk price cut
Co-ops move to cut August milk prices
Butter prices nosedive as market sentiment falters
What the futures hold for dairy incomes
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