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Lakeland Dairies, the first processor to announce its June milk price, has opted to hold their base price at 30.15c/l excluding VAT.
The board's decision means that the same milk price has been paid since May.
"This is consistent with Lakeland Dairies’ commitment to pay our suppliers the highest possible milk price in line with market conditions which remain challenging," a statement from Lakeland Dairies said.
"There has been a softening in skim markets, which have risen only gradually from a record low, and while butter returns which are underpinning current prices, they have softened in the past month."
The processor is currently in amalgamation talks with LacPatrick co-op, with the potential for the creation of a 1.8bn litre milk pool if the talks are successful.
PPI
The PPI value for June was 109, a 4.4% jump on the previous month. This is equivalent to 31.1c/l excluding VAT, based on Ornua’s product purchase mix and assumed processing costs of 6.5c/l.
"The June 2018 Index reflects stronger returns in the month for butter and powders," an Ornua spokesperson told the Irish Farmers Journal.
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