Milk prices up across the board for July

Milk prices have increased across the board for July, with prices rising by upwards of 1c/l for last month’s supplies.

Dairygold upped its base milk price for July by 1.9c/l to 41.31c/l, at 3.3% protein and 3.6% butterfat. This excludes VAT and conditional bonuses (sustainability payment and balanced scorecard).

Tirlán increased its base price by 1.67c/l to 42.3c/l, excluding VAT, at 3.3% protein and 3.6% butterfat. A sustainability payment of 0.48c/l, excluding VAT, will be paid to all qualifying suppliers.

Kerry Dairy Ireland set its base milk price for July at 41.98c/l, excluding VAT, at 3.3% protein and 3.6% butterfat; a 1.43c/l rise, excluding VAT.

Arrabawn increased its base price for July by 1.43c/l, excluding VAT. It will pay 42.60/l for milk supplied last month at base solids, excluding VAT and bonuses.

A 0.47c/l sustainability payment and a 0.72c/l support payment, both excluding VAT, will also be paid. The support payment has increased by 0.48c/l from June, excluding VAT.

Carbery lifted its base price by 1c/l to 41.28c/l at base solids, excluding VAT and bonuses.

Meanwhile, Lakeland Dairies’ base price for last month’s supplies is up 1.67c/l to 42.7c/l, excluding VAT, at 3.3% protein and 3.6% butterfat.

A 0.47c/l sustainability incentive payment will also be paid to qualifying suppliers.

Butter

Most processors cited butter prices as primarily being behind the improvement in dairy market returns.

Tirlán chair John Murphy said butter and cream prices were factors in the increase.

“Milk constituent levels have struggled in Europe due to weather and feed issues, which has reduced butterfat availability. Global milk supply is forecast to increase in the coming months, but overall supply is likely to be similar to the previous year or only marginally higher,” he added.