Rise in prices as farmers urged to maximise milk production for remainder of 2024

Tirlán chairman John Murphy said that butter and cream prices recorded a "notable increase in recent weeks due to tight supply". 

Tirlán has confirmed it will pay a total of 44.83c/litre for July creamery milk supplies at 3.6% butterfat and 3.3% protein. 

This is an increase of 1.75c/litre on the payment for June.

Tirlán's base price is 44.33c/litre.

It continues to pay a sustainability action payment of 0.5c/litre to all qualifying suppliers.

The actual average price paid by Tirlán for July creamery milk, based on delivered constituents, will be 49.66c/litre.

Tirlán chairman John Murphy said that butter and cream prices recorded a "notable increase in recent weeks due to tight supply". 

"Milk constituent levels have struggled in Europe due to weather and feed issues, which has reduced butterfat availability," he said.

“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. 

"The main driver of market dynamics in the coming months is likely to be the seasonal ramp-up of production in the southern hemisphere."

A spokesperson for Dairygold also this week said that the company remains "focused on encouraging milk suppliers to maximise their milk production for the remainder of the year".

The Dairygold board has increased its July quoted milk price by 2c/litre to 44.5clitre.

The price equates to an average farm gate milk price of 49.8c/litre, based on the average July 2024 milk solids achieved by Dairygold milk suppliers.

The price for July, based on EU standard constituents of 3.4% protein and 4.2% butterfat, is 48.5c/litre.