Dairygold has reduced June milk price to 36.02c/l, excluding VAT, based on standard constituents of 3.3% protein and 3.6% fat.
This is a reduction of over 2c/l on May's milk price when the processor paid farmers 38.09c/l, excluding VAT.
A Dairygold spokesperson said that global dairy markets have weakened significantly in the last month and this has reduced the returns on milk.
"This reduction is driven by reduced demand across all product categories. The Dairygold board will continue to monitor markets closely and review milk price on a month-by-month basis,” they said.
On Monday, Kerry Group announced it will pay farmer suppliers 35.07c/l, excluding VAT, for June supplies, the same amount it paid for May supplies.
Meanwhile, last week, Lakeland Dairies announced it will pay suppliers 35.4c/l, excluding VAT, for milk supplied in June. This price also saw no change from May's milk price.