The board has decided to cut August milk supplies for farmers in the Republic of Ireland by 0.75c/l to 26.25c/l, while the price for Northern Ireland suppliers has been cut by 0.5p/l to 17.5p/l.

Town of Monaghan is the final co-op to set its monthly price after changing its payment system earlier this year.

All co-ops have now set prices for August.

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Dairygold held its price for August and the Kerry Group also held its price , but Lakeland cut for August. Glanbia cut its August price by 0.5c/l.

Arrabawn also cut its price by 0.5c/l, while Carbery again held.

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Earlier this month, Ornua set its purchase price index for August, which equated a farmgate milk price of 26.96c/l.