Milk processors have cut milk prices for July by between 1.85c/l and 2.5c/l, describing global demand for dairy products as weak and sluggish.
The largest cut of 2.5c/l was implemented by Tirlán, which announced a price of 33.89c/l, excluding VAT, at 3.6% butterfat and 3.3% protein.
Tirlán’s July milk price includes a 3.5c/l support payment and a 0.5c/l sustainability action payment.
The processor is paying over 20c/l less this July, compared to what it paid for milk supplied during the same month last year.
Co-op chair John Murphy said: “Global dairy markets continue to weaken, which regrettably has necessitated reductions in base price.
“We recognise the challenges of the current high-cost operating environment at farm level and significant supports have been provided to assist farmers as the market moved sharply downwards from historical highs.”
Carbery announced a cut of 2.2c/l for July, while Dairygold reduced milk price for July by 2c/l, paying suppliers 36.2c/l and 34.3c/l, excluding VAT, respectively.
Both prices are based on standard constituents of 3.3% protein and 3.6% butterfat.
Carbery’s price is inclusive of a 3c/l support payment and a 0.5c/l somatic cell count bonus, while Dairygold’s is inclusive of sustainability and quality bonuses.
Carbery continues to be the top paying major processor in 2023.
In a statement from the Cork-based co-op, it said: “The outlook on commodity dairy continues to be bearish, with further downward pressure on European and global pricing. Dairy demand continues to struggle, with no sign currently of any near-term correction.”
Lakeland Dairies also cut its milk price for July, announcing a base price of 33.81c/l, excluding VAT, a drop of 1.85c/l on its June price.
Remaining unchanged for July milk price was Kerry Group.
The co-op confirmed that it will pay farmer suppliers 35.24c/l, excluding VAT, and including a milk contract payment of 3c/l on all qualifying milk volumes in the month.
Kerry has maintained its base milk price since May.