Lakeland Dairies has cut its August milk price by 0.75c/l on last month’s price.

In the Republic of Ireland, a price of 28.49c/l excluding VAT has been agreed for milk supplied in August.

In Northern Ireland, a price of 24.50p/l will be paid for August supplies. The price has reduced by 0.75p/l on last month’s price.

Weak demand

Commenting on the price, Lakeland said: “Despite the moderation in milk supplies, the global dairy market continues to be hit by weak demand across a range of products as a result of significant Brexit trade uncertainty and US-China trade wars.

“Lakeland will continue to monitor the market closely in the coming week.”

ICMSA dairy committee chair Gerald Quain said farmers expected co-ops, at the very minimum, to hold milk prices at current levels for August.

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